News

27th October 2016

Microfinance Loans from Local Development Office Clare

Under a partnership between Microfinance Ireland and the Local Enterprise Offices, business loans are now available through  LEO Clare.

  • Unsecured loans from €2,000 up to €25,000
  • Term from 3 to 5 years
  • Reduced interest rate 6.5% (6.8% APR) for LEO clients
  • Flexibility on repayment terms

Click here to use the Microfinance Ireland Loan Calculator and Eligibility tool

More Info

The loans are provided and underwritten by our partner organisation Microfinance Ireland and application may be made through the LEO office and will in the first instance  be assessed locally. Microfinance Ireland was established by the Government to provide additional lending to start up and existing micro enterprises. The final decision for all loan applications is made by Microfinance Ireland. Loans are repayable to Microfinance Ireland according to the terms and conditions set out by Microfinance Ireland.

Sole Traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2 million are eligible to apply. Unlike some of the other financial supports available from LEO Clare, all business sectors are eligible to apply. Loans can be used to fund start ups, existing and growth micro-enterprises and can be used for working capital ot the hiring of new employees, the purchase of stock, equipment, machinery and business vehicles.

By applying through LEO Clare you will get:

  • 1% reduction on normal interest rate of 7.5% (7.8% APR)
  • Assistance and feedback on the application
  • Business advice and support

If you would like to apply for a loan please contact 065-6821616 or email localenterprise@clarecoco.ie

For more information please visit Microfinance Ireland website www.microfinanceireland.ie

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