Microfinance Ireland wins InBusiness Recognition Award for second time in 3 years
Microfinance Ireland has been awarded an InBUSINESS Recognition Award as Finance Provider to Start-Ups & Micro-enterprises for 2020 to acknowledge our support for a large number of micro-enterprises and the sustainment of 2,972 jobs, through what was an extremely challenging year for small businesses In Ireland. This is the second time in the past 3 years that Microfinance Ireland has received this award.
The InBusiness Recognition Awards aim to honour and celebrate success, achievement and ambition within Irish business and to acknowledge and appreciate the contributions of individuals to grow business in this country.
In what was a record year for Microfinance Ireland, demand for our services was unprecedented with application volumes up 102% in 2020. A record number of 1,229 loans (up 172%) totaling €27 million (up 354%) were approved and supporting the sustainment of 2,972 jobs in 2020. Over 70% of the loans provided and 86% of the jobs sustained in the year were to businesses to help support them through COVID19.
Garrett Stokes, MFI’s CEO, commented, “We are absolutely delighted to receive the InBusiness Recognition Award which is a huge endorsement of the business and the service we provide in Microfinance Ireland. Winning the award for the second time in 3 years is a huge honour for all of the team in MFI. Clearly it recognises the work we have done supporting both Start-ups and more established micro-enterprises across the country who cannot get finance from Banks and other commercial lending providers and helped to sustain jobs in what was an extremely challenging year for small business.”
Microfinance Ireland received their award recently at a virtual InBusiness Recognition Awards ceremony.
Read more about the awards and the winners here