Microfinance Ireland has been funded by the Irish Government to provide loans to newly established and growing microenterprises (turnover less than €2m; staff less than 10) across all industry sectors that do not meet the conventional risk criteria applied by banks. In the first instance you should approach your bank for credit. In the event that credit is declined, you are eligible to apply to Microfinance Ireland for a loan.
Microfinance Ireland works in partnership with the County & City Enterprise Boards who can assist with training and guidance in preparing your business plan. They will also conduct an initial evaluation of the quality of your business proposal for a loan application.
Loans from Microfinance Ireland benefit from a guarantee issued under the ‘European Progress Microfinance Facility’ established by the European Union. For further general information on the ‘European Progress Microfinance Facility’ check out the following link and EIF.
n order to be eligible to apply for a loan, you will need to have a commercially viable business proposal that has been declined by a bank and then if you meet the following criteria you are eligible to apply for a loan.
You Need To Be
- • Startup or existing microenterprise
- • Employing less than 10 employees
Microfinance Ireland works in partnership with the County & City Enterprise Boards who can assist with training and guidance in preparing your business plan. They will also conduct an initial evaluation of the quality of your business proposal for a loan application.
More details on how to apply here [button url=”http://microfinanceireland.ie/index.php/how-to-apply/” target=”_blank”]Microfinance Application[/button]