‘Banks demanding loans paid back over RHI cuts’, says RHA chairman
The chairman of a firm representing some firms who received payments under the Renewable Heat Incentive (RHI) scheme has claimed a bank has now demanded loan repayments in light of proposals to slash RHI subsidies.
Andrew Trimble, executive chairman of the Renewable Heat Association (RHA), was speaking on BBC Radio Ulster.
“One of the banks rang a major wood processing firm in Antrim and said ‘look, you’re about to have a major business shock which you’re unable to survive and we’d like you to pay off your loan immediately’,” he said.
“This was yesterday (Tuesday) at 4pm. One can only assume that they (the bank) knew of the nature of the subsidy cut.”
Mr Trimble continued: “It’s a small to medium business. They process wood, raw wood, into woodchip to produce fuel for the market. I had a very short text this morning (Wednesday) saying ‘my bank called me yesterday afternoon (Tuesday) at 4pm. They want their money back’.”
He added: “And the guy, of course, is distraught. That’s as much detail as I have.”
Asked if this would put the business ‘under’, Mr Trimble replied: “Yes.”