Who we lend to

• Microfinance Ireland as a not-for-profit lender that is government funded, is there to support viable businesses with the funding that they need to set-up, manage or grow their business.

• We provide business loans up to €50,000 to both Start-ups and Established businesses that are having difficulty in getting access to funding. We lend to businesses in Hospitality, Food & Drink, Manufacturing, Construction, Retail and Services to name but a few.

• Many of our customers come to us either directly or through one of our partners, the Local Enterprise Office or Local Development Company, or after being turned down for credit by their Bank.

• So, whether you are just starting out, need some help with managing cashflow or are scaling up your business, check out our Loan Packages and see how Microfinance Ireland can help you.

Who is Eligible to Apply? 

• Microfinance Ireland lends to small businesses based in the Republic of Ireland with fewer than 10 full-time employees.
• The annual turnover must be less than €2m excluding VAT, or annual balance sheet total (defined as Fixed Assets + Intangible Assets + Current Assets) does not exceed two million euro (€2,000,000) in respect of the full fiscal year immediately preceding, or in 2 of the last 3 years.
• There must be at least 1 full-time position in the business either for you or for somebody else. The business and the job(s) must be located in the Republic of Ireland (26 counties).

• Personal Insolvency Arrangements: MFI is permitted to fund formally discharged Bankrupts, and persons who have exited any Personal Insolvency Arrangement (PIA). We will require documentary evidence of this at Application Stage. However, please note that we do not lend to individuals entering a PIA or the bankruptcy process and cannot lend to any individual or associated business entity whilst that individual is in a PIA or bankruptcy process. If you are uncertain as to whether your business falls within the restrictions outlined above please contact us by email at info@microfinanceireland.ie or by phone at 01 260 1007.

Excluded Sectors and Business Activities: Under EIF Guarantee(s), there are a number of restricted sectors and/or business activities that MFI cannot support. To see the full list of restricted sectors please visit our Exclusions Page.

Note on Connected Enterprises: 

MFI is obliged under the European Commission Ref. Ares (2016)956541 – 24/02/2016 “User Guide to the SME Definition” to consider what ownership links a Microenterprise business has with other businesses to calculate the aggregate Turnover/Head Count/ Total Assets (Fixed Assets + Current Assets) outlined in the Financial Statements to ensure each Applicant business complies with MFI’s Lending Criteria.

There are 3 types of Microenterprises:

• An Autonomous Enterprise.
• A Partner Enterprise (ownerships of >25% and <50%)
• A Linked Enterprise (ownerships of >50%).

The Turnover/Head Count/Total Asset Values as per the Balance Sheet (variables) calculations are different for each type of microenterprise of which there are 3 types of Microenterprises:

• An Autonomous Enterprise: The variables calculation is done on a standalone basis, that is, 100% of the variables of the Applicant Enterprise,
• A Partner Enterprise: The variables calculation includes 100% of the Applicant business and a percentage of the variables of the Partner Enterprise based on the percentage ownership held,
• A Linked Enterprise: The variables calculation includes 100% of the variables of the Applicant Business and 100% of the variables of each Linked Enterprise business (ownership stake held >50%). In case a relationship of this kind occurs through the ownership of one or more individuals (acting jointly), the enterprises involved are considered as linked if they operate on the same or adjacent markets (adjacent markets, or closely related neighbouring markets, are markets i.e. where products or services are complementary to each other or when they belong to a range of products that is generally purchased by the same set of customers for the same end use).