Expansion Loan
Most successful businesses require a loan at some stage to fund plans to grow and expand your business. If you are a Sole Trader, a Partnership or a Limited Company from any sector and in operation for more than 18 months, you are eligible to apply.
€2K-25K
There are no fees or hidden charges on expansion loans from Microfinance Ireland. Fixed repayments gives you peace of mind and lets you focus on managing your business.
Product Features
- 6.5% APR- Lower rate of 5.5% APR if you apply via Local Enterprise Office
- Loans from €2,000 – €25,000
- Supports your longer term plans for your business
- No fees/no hidden costs/fixed repayments
- Established Business in operation > 18 months
- Free Mentoring – where deemed appropriate
- 5 year max term
Application Documents
You will need to complete and/or submit the following documents to apply for this Microfinance Ireland Loan:
6 Months Bank Statements
Both personal and business, if available.
Credit Report – Central Credit Register
MFI will conduct a credit search directly with the Central Credit Register (CCR) for all applications in the name of Sole Traders, Partnerships and Limited Companies.
Important – For Limited Companies Only: Where an application is being made in the name of a limited company, all Directors and/or Shareholders with a 25% or more shareholding in the company must obtain a personal credit report which should be submitted with the application
Mentoring
Once your expansion loan is approved, we may also provide you with mentoring support from an experienced business mentor on the Local Enterprise Office (LEO) Mentor Panel, if we decide it is appropriate. Mentoring is a vital extra support tool to help you grow and develop your business.