Our Loan Packages
Learn about our different loan packages. We offer fixed repayment options for all our business loans, ensuring transparency with no hidden fees or charges.
We do not require Asset security for our loans. However, if you are applying for a business loan through a Limited Company (LTD Company) / Designated Activity Company (DAC), we will request that you (Directors / Shareholders / Key Business Influencers) sign an Indemnity which is your commitment to take responsibility for repaying the loan if the business cannot do so. Microfinance Ireland is required to report all such Indemnifiers to the Central Credit Register (CCR).
Start Up Loan
- Supports the set-up and early stage phase of a new business up to 12 months
- Loans from €5,000 – €50,000
- 6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
- 3 year max term
- First 3 months – Interest Only payments
- No fees/no hidden costs /fixed repayments
- Free Mentoring – up to 5 sessions
- (Note : Microfinance Ireland can only lend to businesses having difficulty obtaining loans from the banks or other funding providers and we may seek evidence that you have not been able to get funding elsewhere.)
Cashflow Loan
- For Established Business
- Loans from €5,000 – €50,000
- 6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
- Supports cashflow and day to day running of the business
- No fees/no hidden costs/fixed repayments
- Free Mentoring – where deemed appropriate
- Loan terms up to 3 years
- (Note : Microfinance Ireland can only lend to businesses having difficulty obtaining loans from the banks or other funding providers and we may seek evidence that you have not been able to get funding elsewhere.)
Expansion Loan
- For Established businesses
- Loans from €5,000 – €50,000
- 6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
- Capital expenditure re business development /expansion
- Longer terms – up to 5 years
- No fees/no hidden costs/fixed repayments
- Free Mentoring – where deemed appropriate
- (Note : Microfinance Ireland can only lend to businesses having difficulty obtaining loans from the banks or other funding providers and we may seek evidence that you have not been able to get funding elsewhere.)
Small Loan
- For both Start Up & Established Businesses with low funding requirements
- Loans €2,000 – €5,000
- Up to 3 years max term
- 6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
- Simpler paperwork
- No fees/no hidden costs/ fixed repayments
- Credit decision is final – no right to appeal
