Microfinance Ireland

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

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., and can be made through your Local Enterprise Office

MFI works very closely with the Local Enterprise Offices, providing loans to small businesses, and the LEO can help you prepare your application for the Microfinance loan.  The LEO South Cork offers tailored support for you with the forms, and will work with you to ensure you have everything that is required for your loan application pack. 

MFI consider applications from businesses who may have been declined facilities from other commercial providers. What's more, when you apply for an MFI loan through your Local Enterprise Office, you benefit from a 1% discount off the standard interest rate (currently 7.8% APR) bringing the rate to 6.8% APR.  

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:  http://www.microfinanceireland.ie/exclusions/

To make a loan application, you will need to complete and submit a number of documents as part of the application process, as well as the application form itself. To apply for assistance with the application from the LEO, please register here

Calculate your monthly repayments using MFI’s Loan Calculator http://www.microfinanceireland.ie/apply-now/loan-calculator/

Talk to your LEO Business Advisor or Click here https://www.microfinanceireland.ie/application-documents/for more information.

 

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