Microfinance Ireland Small Business Loans

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Microfinance Ireland (MFI) provide small loans through the Government’s Microenterprise Loan Fund. The purpose of the fund is to help start-ups and established small businesses to get the finance they need for their business

MFI work closely with Longford Local Enterprise Office, as well as the Irish Local Development Network and all major banks to provide viable businesses with the support they need to get started or to grow their business and create jobs. You can apply for MFI Loans through Longford LEO.  

Who do MFI Work With?

MFI works with small businesses based in the Republic of Ireland, with fewer than 10 employees and turnover up to €2m. Sole Trader, Partnership or a Limited Company are all eligible to apply. Some exclusions apply: microfinanceireland.ie/exclusions

How Much Are The Loans For?

MFI's unsecured business loans are between €2,000 to €25,000 for commercially viable proposals. You can calculate your monthly repayments using MFI’s Loan Calculator: microfinanceireland.ie/apply-now/loan-calculator

What Can The Loans Be Used For?

Loans can be used to fund start-up costs, working capital, purchase of stock, equipment, machinery, business expansion. MFI also consider applications from businesses who may have been declined facilities from other commercial providers. 

Why Apply for An MFI Loan Through Longford LEO?

Longford Local Enterprise Offices can help you prepare the documents you need to apply for a loan from MFI. You can also get a 1% reduction in the interest rate when you submit your application through Longford LEO. 

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

How Do I Apply?

Complete the €2000-€5000 Loan Application Form or the €5000 to €25000 Loan Application Form and submit the require documents. Talk to Longford LEO (info@leo.longfordcoco.ie) for more information on the application process. 

 

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