What each fund lends
| Fund | Loans | Published terms | Contact |
|---|---|---|---|
| Louth County Enterprise Fund | Business loans up to €25,000 | 3 to 5 years, typically 7% | 087 234 1455 or info@thefund.ie |
| Drogheda Nurture Fund, run by the Louth fund | Business loans up to €25,000 | 3 to 5 years at 7% a year | 087 234 1455 |
| Donegal County Enterprise Fund | Micro Credit Loan under €25,000. Women's Loan under €6,000. Deal Loan under €6,000 | Rates and terms not published | 074 916 0899 |
| Cavan County Enterprise Fund | Revolving Loan Fund and Social Loan Fund | Amounts, rates and terms not published | 049 437 7277 |
Donegal and Cavan describe theirs as revolving funds. Money repaid by one borrower is lent to the next, so what is available changes. Ring before you fill in anything.
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Louth: up to €25,000 at around 7%
The Louth fund was started in 1989 to lend to entrepreneurs and small businesses that had difficulty getting finance from the established lenders. It says that is still its purpose, and that it supports most business sectors, for start-ups and for expansion.
It has backed some 500 businesses. It says many of them were not eligible for State support, and others had been turned down by mainstream lenders.
Decisions are made by the fund's board and its assessment committee, which has members from the private and public sectors. Every application needs:
- 12 months of business bank statements
- 12 months of personal bank statements
- last year's audited accounts
- a copy of your business plan
- an original tax clearance certificate
- confirmation of any other funding you have been approved for
You can apply on the Louth fund's website, or download the form and post it to the fund at the Regional Development Centre, Dundalk Institute of Technology. The form also asks about your own loans and mortgage, and how many people you expect to employ after one year and after three.
The same team runs the Drogheda Nurture Fund, paid for by Louth and Meath County Councils through their Local Enterprise Offices. It offers the same size of loan at 7% a year to businesses inside the Drogheda Implementation Board's target area. You send a short expression of interest with your Eircode first, and apply once the fund confirms you are in the area.
The fund sits alongside the grants and council schemes open to a Louth business.
We can prepare the business plan and cashflow a lender asks for
The Louth fund asks for a copy of your business plan with every application, and our plan pack writes one from your answers with a 12-month cashflow.
- Your business plan in the layout banks and credit unions expect
- Your 12-month cashflow, with the loan repayments built in
- A one-page loan request and a checklist of what the lender will ask for
€99 one-off, VAT included. You put in your figures and check your cashflow, then pay and answer the questions. A person prepares your pack within two working days. 14-day money-back promise. We cannot promise any funder will approve you.
Donegal: three small loans
The Donegal fund dates from 1988. It says it has made 488 loans worth €4,812,000 to sole traders and micro enterprises over 30 years, starting from €500,000 in capital.
- Micro Credit Loan: under €25,000
- Women's Loan: under €6,000
- Deal Loan: under €6,000
It does not publish rates, terms or what each loan is for. To apply, ring the fund on 074 916 0899. It says every loan depends on enough money being available in the fund when your application is assessed.
The fund also provides enterprise units and co-working space in Letterkenny and Glenties. For everything else in the county, see what a Donegal business can apply for locally.
Cavan: loans for expanding businesses
Cavan County Enterprise Fund was set up in 1988. It offers loan finance to new and expanding small businesses, usually in manufacturing, tradable services and tourism.
Its Revolving Loan Fund goes towards expanding, altering or improving an existing business premises, and towards working capital. Its Social Loan Fund lends at affordable rates to community projects and to micro enterprises that give a social as well as a financial return.
No amounts, rates or terms are published. The fund says applications are considered on their merits and are subject to eligibility criteria. Its page is on the Local Enterprise Office Cavan website, and the contact number given there is 049 437 7277.
It also lets workspace in Cavan, Cootehill, Blacklion and Killeshandra. Our Cavan page covers the Local Enterprise Office in Cavan and its grants.
Who cannot borrow
- Businesses outside the county. The Louth fund says its activities are confined to County Louth only, and the Donegal fund exists to invest in County Donegal.
- Anyone who needs more than €25,000 from the Louth or Donegal fund.
- In Cavan, businesses outside manufacturing, tradable services and tourism. They are not the fund's usual borrowers.
- In Donegal, anyone who applies when the fund does not have enough money available.
If that rules you out, a State-backed loan of up to €50,000 is on offer in every county, and in Donegal the western regional fund lends from €50,000 up.
Other counties
The Louth fund says similar enterprise funds exist in Monaghan, Leitrim and Sligo.
We could not find published loan terms for any of those three when we checked on 3 October 2026, so we have left them out. Your Local Enterprise Office will know what the fund in its county is doing now.
Common questions
What interest rate does the Louth County Enterprise Fund charge?
The fund says its rates are typically 7%. The Drogheda Nurture Fund, which it also runs, charges 7% a year. Loans are repaid over 3 to 5 years.
Can I apply if a bank has refused me?
In Louth, yes. The fund was set up for businesses that had difficulty getting finance from the established lenders, and it says many past borrowers had been turned down by them. The Donegal and Cavan funds do not say either way.
Do I need a business plan?
The Louth fund asks for a copy of your business plan with every application, along with 12 months of business and personal bank statements, last year's accounts and a tax clearance certificate. Donegal and Cavan do not publish a list, so ask when you ring.
How much can I borrow from the Donegal County Enterprise Fund?
Its Micro Credit Loan is for amounts under €25,000. Its Women's Loan and its Deal Loan are each for amounts under €6,000. Every loan depends on the fund having money available at the time.
Is there an enterprise fund in my county?
The Louth fund names Monaghan, Cavan, Leitrim, Sligo and Donegal as counties with similar funds. We found published loan details only for Louth, Donegal and Cavan. Microfinance Ireland lends in every county.
Keep reading
Where this comes from
- Louth County Enterprise Fund, home page
- Louth County Enterprise Fund, about
- Louth County Enterprise Fund, apply online
- Louth County Enterprise Fund, Drogheda Nurture Fund
- Donegal County Enterprise Fund, home page
- Donegal County Enterprise Fund, the fund
- Local Enterprise Office Cavan, Cavan County Enterprise Fund
Checked on 3 October 2026. We are an independent guide, not a government service. Rules change, so confirm the detail on the official page before you apply.
Information only, not financial advice. GrantHub Ireland is not a lender or a broker and takes no commission or payment from any lender.