Learn about our different loan packages. We offer fixed repayments for the term of our loans 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).
MFI must be provided with a formal decline letter/email from an Asset Finance Provider when the loan proposition is to fund the purchase of (i) any type of vehicle (new or second hand) and (ii) any commercial machine/machinery (new or second hand) which is suitable for asset finance type funding.
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.)
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.)
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.)
Suitable for those whose businesses fall under NACE Code A 01 & 02.
Loans €2,000 – €50,000
Up to 5 year max term
6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office
For businesses that are regulated/reporting to the Department of Agriculture, Food and the Marine (DAFM)
No fees/no hidden costs /fixed repayments
(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.)
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