Microfinance Ireland

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Who is Microfinance Ireland (MFI)?

Microfinance Ireland (MFI), is a not-for-profit lender, established to deliver the Government’s Microenterprise Loan Fund.

MFI works very closely with the Local Enterprise Offices (LEOs), providing loans to small businesses. Helping to create and sustain employment by providing loans to small businesses is at the heart of what they do.


The COVID-19 Business Loan from Microfinance Ireland is a Government initiative to support microenterprises, through the current period of uncertainty and for small businesses that have been impacted by the coronavirus pandemic in Ireland.  Loans from €5,000 to €25,000 are available to micro-enterprises that meet the eligibility criteria for the COVID-19 Loan. For further information please click on the FAQ document here

Who is Eligible to Apply?

MFI works with small businesses based in the Republic of Ireland, with fewer than 10 employees and turnover up to €2m, by providing unsecured business loans of €2,000 to €25,000 for commercially viable proposals. Loans can be used to fund start-up costs, working capital, purchase of stock, equipment, machinery, business expansion etc.

They consider applications from businesses who may have been declined facilities from other commercial providers
Whether your business is set up as a Sole Trader, Partnership or a Limited Company, you are eligible to apply.  All business sectors are eligible to apply, with these exceptions.

You can apply for an MFI loan through your Local Enterprise Office.

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

Calculate Loan Repayments

Calculate your monthly repayments using MFI’s Loan Calculator.

How to Apply

To make a loan application, you will need to complete and submit a number of documents as part of the application process. Talk to your LEO Business Advisor or Click here for more information.

Covid Business Support


The Brexit Business Loan from Microfinance Ireland is available to support small businesses through the current Brexit challenges and protect job creation and sustainment in Ireland.

If your business turnover is currently or potentially could be impacted by Brexit by a minimum of 15%, or your business has a short-term cashflow requirement and you are unable to secure finance from banks and commercial lending providers, the MFI Brexit Business Loan may be an option to help your business.

Loans may be used for short-term working capital and/or required business changes as a result of Brexit. To find out more information please click here.

Who is Eligible to 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 a Bank or commercial lending provider
  • Business turnover is or potentially could be impacted by a minimum of 15% OR the business has a short term cashflow need as a result of Brexit.

* While Businesses involved in Alcohol Production are deemed to be an excluded sector for MFI Loans, they are eligible to apply for an MFI Brexit Loan.


  • Loans from €5,000 – €25,000*
  • Loan Terms from 6 months to 3 years** (shorter terms depending on purpose)
  • Interest rate of 4.5% APR if submitted through the Local Enterprise Office Network or other referral partners or 5.5% APR if you apply directly
  • No fees/charges or any hidden costs
  • Fixed repayments with no penalty for early repayment

* Maximum credit exposure for all MFI borrowings is €25,000

**Depending on the term of the loan, interest only repayments for 3 months may apply in line with our standard products

Calculate Loan Repayments 

Calculate your monthly repayments using MFI’s Loan Calculator.

How to Apply 

To make a loan application, you will need to complete and submit a number of documents as part of the application process. Talk to your LEO Business Advisor or Click here for more information.