Pre-MFI Business Loan Application Advice

Microfinance Ireland (MFI) is a government funded initiative to support small businesses to protect job creation/sustainment in Ireland.  

If any micro-enterprise is having difficulty in accessing Bank finance, the MFI Business Loan may be an alternative funding solution for them.

Loan Features

• Business Loans from €5,000 to €50,000
• First 6 months - 0% interest and zero repayments
• Repayments will commence in month 7 for the remaining period of your loan.
• Government rebate for the interest paid in the following 6 months (months 7-12 of your loan)
• Interest Rate after the first 6 months will be a reduced interest rate 5.5% APR if submitted through the Local Enterprise Office (LEO) Fingal
• Loan terms typically up to 3 years
• No fees or charges
• Fixed repayments with no penalty for early repayment

Who Can Apply?

• Any business (Sole Trader, Partnership or Limited Company) with less than 10 employees and annual turnover of up to €2m
• Unable to secure finance from Bank and/or commercial provider

Please note: Applications are processed by Microfinance Ireland and use their lending criteria. The Local Enterprise Office does not influence or assist in the decision process and can not over turn a decision made by the Microfinance Ireland Committee.