Microfinance Ireland provides loans to microenterprises (fewer than 10 employees) that have been unable to secure credit from a bank or other mainstream finance provider. The maximum loan was doubled from €25,000 to €50,000 in September 2024, and loans start from €2,000. Loans can be used for cash flow or expansion.
Applications made through your Local Enterprise Office attract a 1% discount on the interest rate; applications made directly to Microfinance Ireland do not. The scheme supports start-ups and established businesses in any sector. Loans are generally repaid over 3 or 4 years (up to 5 years for capital expenditure), and there are no fees or penalties for early repayment.
Sole traders, partnerships and limited companies with fewer than 10 employees and turnover under €2 million. Must have been unable to secure finance from a bank or commercial lender.