Credit Union Enterprise Loan
Dungarvan Credit Union has established the Enterprise Loan to provide a flexible and convenient source of credit for those looking to set-up or expand their existing small business.
The Local Enterprise Office Waterford has partnered with Dungarvan Credit Union to promote the Enterprise Loan, assist in evaluating applications and offer business related mentoring services.
Applicants to the loan scheme must be eligible for membership of Dungarvan Credit Union (i.e. they must be living, working or operating a business within the common bond area).
Details of the loan available include:
- Loans up to €50,000
- Loan term up to 5 years
- No administration fees or hidden charges
- Interest is calculated on the reducing loan balance
- Flexibility to pay off lump sums or clear the loan early without penalty
- Eligible members get Free Loan Insurance
- Interest Rate 6.5% (6.69%) APR variable
* For a €20,000 variable interest rate loan with 60 monthly repayments of €391.32, an interest rate of 6.5% and a representative APR of 6.69%, the total amount payable by the member is €23,479.84. (Information correct as of November 2016)
For more information, please contact a member of staff or the Loan's Officer at Dungarvan Credit Union