Industry & Business

Microfinance Ireland approves €5.4m in loans

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Microfinance Ireland approves €5.4m in loans

February 04
17:42 2016

microfinanceMicrofinance Ireland has said 930 jobs were supported in small companies last year, after it approved €5.4m worth of loans.

A total of 357 small companies were supported, out of 752 loan applications.

Microfinance Ireland offers unsecured business loans of between €2,000 and €25,000 to companies with fewer than 10 employees and with a turnover of less than €2m.

All business sectors are eligible to apply for a microfinance loan.

Loans may be used to fund the start-up of a business, the purchase of stock, equipment, machinery and business vehicles and are also available to existing enterprises.

Microfinance Ireland (MFI), as a not-for-profit lender, has been established to deliver the Government’s Microenterprise Loan Fund. Unsecured loans from €2,000 up to €25,000, Term is from 3 to 5 years.

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