Expansion Loan
Most successful businesses require a loan at some stage to fund plans to grow and expand their business. If you are a Sole Trader, a Partnership or a Limited Company from any sector and in operation for more than 18 months, you may be eligible to apply.
€5K-50K
There are no fees or hidden charges on expansion loans from Microfinance Ireland. Fixed repayments gives you peace of mind and lets you focus on managing your business.
Product Features
- 6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
- Loans from €5,000 – €50,000
- For Loan Applications above €40,000, we will require evidence that you have been unable to get this funding elsewhere
- Supports the long term plans of your business
- No fees/no hidden costs/fixed repayments
- For Established Business in operation for more than 18 months
- Free Mentoring – where deemed appropriate
- 5 year max term
Application Documents
You will need to submit the following documents to apply for a Microfinance Ireland Loan:
6 Months Bank Statements
Personal and business, if business account open.
Credit Report – Central Credit Register
MFI will conduct a credit search directly with the Central Credit Register (CCR) for all applications in the name of Sole Traders, Partnerships and Limited Companies.
Important – For Limited Companies Only: Where an application is being made in the name of a limited company, all Directors and/or Shareholders with a 25% or more shareholding in the company must obtain a personal credit report which should be submitted with the application
