Microfinance Ireland

MFI Image

The Local Enterprise Office are helping new and existing businesses to apply for the Microfinance Ireland loan application process. 

Details of the loans available:

  •     Loans from €2,000 up to €25,000
  •     Loan terms from 3 up to 5 years
  •     Fixed monthly repayments
  •     Interest Rate 6.8% APR fixed when applying through LEO
  •     Businesses from all sectors eligible to apply

Loans may be used for working capital, marketing costs and to fund the set-up of business, the purchase of stock, equipment, machinery and business vehicles.

You can calculate repayments for a MFI Loan here.

Who can apply?

  • Businesses with fewer than 10 employees and an annual turnover of less than €2m
  • Sole Traders, Partnerships and Limited Companies
  • The business must be commercially viable with loan repayment capacity
  • The business must have an up to date Tax Clearance Certificate

Need help with the process?

Local Enterprise Office - Dublin City can arrange meeting for you with a Finance Mentor to help assist you:

  • Complete the Application form
  • With Business Advice
  • Your Business Plan
  • Submiting your application to MicroFinance Ireland

To arrange a meeting please Click Here.

Only Businesses based in the Dublin City Area can apply. Click here to locate your Local Enterprise Office. 

Microfinance Ireland is a not for profit lender established to deliver the Government’s Microfinance Loan Fund Scheme as part of the Action Plan for Jobs.  The objective of Microfinance Ireland is to provide additional lending to start-up and existing SMEs.

Microfinance Ireland works in partnership with the Local Enterprise Offices (LEOs). LEOs provide helpful assistance with the microfinance loan application process and also assist businesses with training and guidance in preparing business plans along with mentoring support to help sustain the business and initial evaluation of the quality of business proposals for a loan application.

Please note: Applications are processed by Microfinance Ireland and use their lending criteria. The Local Enterprise Office does not influence or assist in the decision process and can not over turn a decision made by the Microfinance Ireland Committee.

 

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