MicroFinance Ireland Loans - Information Session - 30th March

MicroFinance Ireland provides small loans through the Government’s Microenterprise Loan Fund. The purpose of the fund is to help start ups and established businesses to get the finance they need for their business

• A micro-enterprise is regarded as a small business with fewer than 10 employees and an annual turnover of less than €2m. MFI helps these businesses by providing unsecured business loans of €2,000 to €25,000 for commercially viable proposals. Sole Traders, Partnerships & Limited Companies are all eligible to apply.
• MFI can consider applications from businesses that may have been declined a loan from their Bank. We look at each application and base their decision on the viability of the business and your ability to repay the loan.
• MFI works closely with all partners, including ourselves in the Local Enterprise Offices, the Irish Local Development Network (Local Development Companies and Area Partnerships – LDCs for short), as well as all the major Banks to provide viable businesses with the support they need to get started or to grow their business and create jobs.
• We can help you to prepare the documents you need to apply for a loan from MicroFinance Ireland. You can also get a 1% reduction in the interest rate when you submit your application through Local Enterprise Office Sligo
• MFI has reduced its interest rates on all new loans to 5.5% (4.5% if submitted through your Local Enterprise Office) which will give MFI the capacity to significantly increase its lending in 2023.

This short and snappy information session will be delivered by Lorna Duffy from MicroFinance Ireland.