New Business Support Fund Launched in Dundalk

Dundalk, Co Louth 17th May, 2019

Dundalk Credit Union, in partnership with Louth County Enterprise Fund, today announced its new €1m Business Loan Fund – “The Nurture Fund”.  This innovative programme will offer significant enterprise support and competitively priced loan finance to businesses across Co. Louth.   The Nurture Fund will be open to applications from June 1st onwards.  The Nurture Fund aims to support business enterprise and development specifically in the areas of Engineering, Manufacturing (including food and drink), Energy & Environment, Financial Services, Digital Technologies and Tourism.  

The €1m Nurture Fund – which has a supported application and mentoring process attaching, will offer loan finance up to €25,000 for start-up businesses and up to €50,000 for established businesses.

Dlk- CU Fund launch May 19

Shane Coleman, Presenter Newstalk Breakfast, officially launched The Nurture Fund and said “small businesses are the life blood of our economy, creating many hundreds of thousands of jobs. And this fund is about the community - via Dundalk Credit union and the Louth County Enterprise Fund - investing in its own community, its region, supporting local jobs, business development and enterprise in the process. It’s a win, win”. 

Dundalk Credit Union CEO Billy Doyle said “The Nurture Fund represents a really positive signal to businesses across Co Louth that we are open to and supportive of their business expansion and development plans.   The North East is a vibrant and innovative business hub and our partnership with the Louth County Enterprise Fund works to reinforce their mission to stimulate and support local enterprise development in Co. Louth.”

Louth County Enterprise Fund Manager Ronan Dennedy said at the launch “The Board of Louth County Enterprise Fund is delighted to collaborate with Dundalk Credit Union on this project.  We have been supporting enterprise in Louth with business loans for the past 30 years. This alliance with Dundalk Credit Union enhances and enlarges both our respective lending functions. The winners are SMEs in the County who are being offered additional business loan opportunities. We anticipate that this initiative will help companies to stabilise and grow, generating additional jobs in the process.”

More information and application forms are available at www.thefund.ie.  Applications are invited from June 1st onwards. Applicants must provide relevant supporting documentation, and applications will be reviewed by the Louth County Enterprise Fund Assessment Committee.

 

 

About Dundalk Credit Union:

Dundalk Credit Union is a member-owned Financial Cooperative that provides a range of financial services to its community.  Established in 1968, Dundalk Credit Union is today one of the largest Credit Unions in Ireland with assets approaching €250m and over 30,000 members.  Its core purpose is to deliver financial independence, wellbeing and opportunity for people and families and to support the development of a stronger, more sustainable community and economy in the region.  Dundalk Credit Union is a strong and trusted partner for all.

Contact:              Billy Doyle, CEO

Tel:                       042-9335489

Email:                   info@dundalkcu.ie

 

About Louth County Enterprise Fund:

Louth County Enterprise Fund was established 30 years ago by the International Fund for Ireland.   The purpose then was to provide loan funding to entrepreneurs and small businesses that had difficulty securing finance from the established lending institutions.   Support is available for most business sectors to help finance start-ups and business expansion.   Since then the Fund has supported hundreds of projects, and generated employment in both the manufacturing and service sectors.   Its activities are confined to Co. Louth.

Contact:              Ronan Dennedy, Fund Administrator

Tel:                       087 234 1455/041 687 1370

E-mail:                 info@thefund.ie

 

 

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