Microfinance Ireland

Micro Finance Ireland

Microfinance Ireland (MFI), is a not-for-profit lender, established to deliver the Government’s Micro Enterprise Loan Fund.

MFI works very closely with the Local Enterprise Offices (LEOs), providing loans to small businesses. Helping to create and sustain employment by providing loans to small businesses is at the heart of what they do.

MFI works with small businesses based in the Republic of Ireland, with fewer than 10 employees and turnover up to €2m, by providing unsecured business loans of €2,000 to €25,000 for commercially viable proposals. Loans can be used to fund start-up costs, working capital, purchase of stock, equipment, machinery, business expansion etc.

They consider applications from businesses who may have been declined facilities from other commercial providers.

Whether your business is set up as a Sole Trader, Partnership or a Limited Company, you are eligible to apply.  All business sectors are eligible to apply, with these exceptions:

You can apply for an MFI loan through your Local Enterprise Office and avail of a 1% discount off the standard interest rate (currently 7.8% APR) bringing the rate to 6.8% APR.

Once a customer has been approved a loan with MFI, mentoring support will be provided with a mentor from the LEO Mentor Panel.  Mentoring is a critically important non-financial learning and support tool, helping business develop and grow.

Calculate your monthly repayments using MFI’s Loan Calculator

To make a loan application, you will need to complete and submit a number of documents as part of the application process. Talk to your LEO Business Advisor or click here for more information.

Provide your details to book Microfinance Ireland Mentoring Session(s)

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Mentoring Requirements

Please provide details of Mentoring to be provided, as outlined in Loan Offer Letter issued by Microfinance Ireland *

Your business challenges

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The Local Enterprise Office is committed to its transparency obligations under the General Data Protection Regulation (GDPR). Our data protection notice for personal data that is supplied to us by our clients is available at www.localenterprise.ie/legal. This notice contains important information about how we process personal data that is supplied to us by clients. By ticking this box, I am happy that this personal data can be shared between the Local Enterprise Office and Microfinance Ireland for the purpose of mentoring. *