Microfinance Ireland COVID-19 Business Loan Reopens for Applications

If you employ less than 10 people and your business is impacted by COVID-19 (resulting in a reduction of 15% or more in turnover or profit), AND you are having difficulty in accessing Bank finance, the MFI COVID-19 Business Loan may be an alternative funding solution for you.

Loan Features

  • Business Loans from €5,000 to €25,000
  • First 6 months - 0% interest and zero repayments
  • Repayments will commence in month 7 for the remaining period of your loan.
  • Government rebate for the interest paid in the following 6 months (months 7-12 of your loan)
  • Interest Rate after the first 6 months will be a reduced interest rate 4.5% APR if submitted through the Local Enterprise Office (LEO) Fingal
  • Loan terms typically up to 3 years
  • No fees or charges
  • Fixed repayments with no penalty for early repayment

Who Can Apply?

  • Any business (Sole Trader, Partnership or Limited Company) with less than 10 employees and annual turnover of up to €2m
  • Unable to secure finance from Bank and/or commercial provider and
  • The business has been impacted by COVID-19 resulting in a 15% or more reduction in turnover or profit.

How to Apply?

Register your interest for an MFI COVID-19 Business Loan and a LEO Business Advisor will contact you to begin the process.

Please download the FAQ document for further information