Microfinance LoansUnder a partnership agreement between Microfinance Ireland and the Local Enterprise Offices, Business Loans are now available through the Local Enterprise Offices.
- Unsecured loans from €2,000 up to €25,000
- Term from 3 to 5 years
- Reduced interest rate 6.8% for LEO clients
- Flexibility on repayment terms
The loans are provided and underwritten by our partner organisation Microfinance Ireland and application may be made through the LEO Office and will in the first instance be assessed locally. Microfinance Ireland was established by the Government to provide additional lending to start up and existing micro enterprises. The final decision for all loan applications is made by Microfinance Ireland. Loans are repayable to Microfinance Ireland according to the terms and conditions set out by Microfinance Ireland.
Sole traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Unlike some of the other financial supports available from the LEO, all business sectors are eligible to apply. Loans may be use to fund the start-up of a business, the purchase of stock, equipment, machinery and business vehicles are also available to existing enterprises.
By applying through your Local Enterprise Office you will get;
- 1% reduction on normal interest rate
- Assistance and feedback on application
- Business advice and support
If you would like to apply for a loan, please call or email your Local Enterprise Office