Small Loan Scheme now available through Local Enterprise Office
Any Microfinance Ireland applicant looking for funding from €2,000 - €5,000 can avail of the Small Loans Scheme through their Local Enterprise Office.
This is a simpler process with shorter Application Form, Business Plan and Income & Expenditure Statement.
This scheme is being introduced in the LEOs in an effort to reduce the workload for people looking for a lower level of funding, and hopefully making the credit process faster all round. However, these applications go through the same level of robust credit assessment by Microfinance Ireland!
However, it is important to note approved applicants under the Small Loan Scheme are not eligible for the specific Microfinance Ireland mentoring programme.
Don’t forget the interest rate on these loans is 6.8% if submitted through the LEO from 1st July 2016.
Click here to download documents