Vehicle Loan

Our Vehicle Loans are for the purchase of both new and second hand vehicles to support your business. Please note that for a Vehicle Loan, you will need to provide us with a decline letter from an Asset Finance provider with your application.

*Note: 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).

€2K-50K

There are no fees or hidden charges on the Vehicle Loan from Microfinance Ireland.

Please Note: We require a formal decline letter from an Asset Finance Provider if you are applying for a Vehicle Loan.

Example of these Asset Finance Providers can be found below- please note this is not an exhaustive list:

AIB Asset Finance
Bank of Ireland Asset Finance Hire Purchase & Leasing
Close Brothers
Fexco Asset Finance
Grid Finance
Nifti Business Finance
PTSB Asset Finance
SME Finance and Leasing

*Note for Taxi Drivers/ Taxi Applicants:
Please note that you will need to provide a copy of your SPSV Drivers Licence at the application stage, along with the other required documents.

Product Features

Loans from €2,000 – €50,000

5 year max term

No fees/no hidden costs /fixed repayments

6.5% interest rate – lower rate of 5.5% if you apply via Local Enterprise Office

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