We are here to help and support businesses who are having difficulty in accessing finance from elsewhere. Therefore we will do everything we can to support you in your application for funding.
Once we have made a credit decision we will contact you to let you know if your application has been successful.
If your application is approved you must provide us with a number of documents before we can release the funds. The list of documents can be found here. Drawdown of the loan cannot take place until all of these have been received by the Microfinance Ireland office.
In the event that we cannot approve your application, we will advise you of the reasons for the decline decision and identify
the areas that need to be addressed within your business.
Sometimes a ‘No’ is a much better decision for the business than a ‘Yes’ at a particular stage but we will always explain the rationale behind our decision.
If you are dissatisfied with the credit decision, you do have the right to appeal through Microfinance Ireland’s internal credit appeals procedure for loan applications over €5,000. You should submit your appeal in writing directly to us setting out the basis for the appeal.
The Credit Assessor who was involved in the original decision will not be involved in the appeals decision. A written response will be issued within 15 business days of receipt of the written appeal.