COVID-19 Business Loan

The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses through the current period of uncertainty and protect job creation or sustainment in Ireland.

Due to unprecedented demand, the initial COVID-19 Loan Fund is currently fully subscribed. Once new legislation is passed, and additional Government funding is made available, the Fund will be re-opened for applications in a number of weeks.

Details of any new funding, including product details (amount, interest rate etc) will be announced as soon as they are agreed by government.

If you would like to pre-register your interest for a COVID19 Business Loan, register your details now and once details are announced, we will email you with more information and the relevant Application Documents.

 

 

Product Features

  • Supports businesses who have been impacted negatively by coronavirus in Ireland
  • Loan terms typically up to 3 years
  • Reduced interest rate for LEO applications 
  • No fees/no hidden charges
  • Fixed repayments/no penalty for early repayment

 

Eligibility

  • Any business (Sole Trader, Partnership or Limited Company) with less than 10 full time employees and annual turnover of up to €2m
  • 15% of actual or projected turnover or profit is negatively impacted by COVID-19
  • Not in a position to avail of finance from Banks and other commercial lending providers.

 

Application Documents

You will need to complete and/or submit the following documents to apply for this Microfinance Ireland Loan:

b

Loan Application Form

 

*Please save the application form to your desktop or downloads before completing the form. Otherwise you may lose information entered on the application form.

l

COVID-19 Business Plan

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

Credit Report – Limited Companies Only

i

6 Months Bank Statements

Both personal and business, if available.

Cashflow Forecast Template

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