Permanent TSB has launched new business lending products aimed at small businesses of fewer than 50 employees and with a turnover of less than €10m.

The new suite of products being offered includes overdrafts, specialist loans, as well as mortgages for businesses.

Rates are priced at 8.0%, 6.5% and 4.5% for the overdrafts, loans and mortgages respectively.  

PTSB has also launched a new VISA Business Debit Card for SME customers, while an enhanced internet banking service will be available from 2016. 

This is the first such move by the bank since the financial crisis, which PTSB says reflects its strategy of focussing on the smaller end of the business banking market where there is considerable overlap between personal and small business accounts.

Killian O’Flynn has been appointed as Head of Business Banking at the the lender.

The launch took place in the new state-of-the-art branch and business centre on O’Connell Street in Limerick.