MFI COVID-19 Business Loan

MFI COVID-19 Business Loan

The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses through the current period of uncertainty and protect job creation or sustainment in Ireland

IMPORTANT: If you apply through the LEO the APR is 4.5%

The LEO South Cork will also appoint you a dedicated adviser to help with the application form

Please contact the LEO DIRECTLY to apply through us

Eligibility

  • Any business (Sole Trader, Partnership or Limited Company) with fewer than 10 employees and annual turnover of up to €2m
  • Not in a position to avail of finance from Banks and other commercial lending providers
  • 15% of actual or projected turnover or profit is negatively impacted by COVID-19

Product Features

  • Business Loans from €5,000 to €25,000
  • First 6 months – 0% interest and zero repayments
  • Repayments will commence in month 7 for the remaining period of your loan.
  • Government rebate for the interest paid in the following 6 months (months 7-12 of your loan)
  • Interest rate after the first 6 months will be: a reduced 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
  • Loan terms typically up to 3 years
  • No fees or charges
  • Fixed repayments with no penalty for early repayment

Click HERE to be taken to the MFI Information page

 

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