The loans on offer
Every loan is at the same fixed rate, with fixed repayments and no fees.
| Loan | Who it is for | Amount | Longest term |
|---|---|---|---|
| Start Up Loan | A new business up to 12 months old | €5,000 to €50,000 | 3 years. Interest only for the first 3 months |
| Cashflow Loan | An established business, for day-to-day running costs | €5,000 to €50,000 | 3 years |
| Expansion Loan | An established business, for equipment and growth | €5,000 to €50,000 | 5 years |
| Small Loan | New or established, with simpler paperwork | €2,000 to €5,000 | 3 years |
| Vehicle Loan | New or second-hand vehicles for the business | €2,000 to €50,000 | 5 years |
| Agri Loan | Farm and forestry businesses | €2,000 to €50,000 | 5 years |
A Start Up Loan comes with up to five free mentoring sessions. There is also a separate fire relief loan for businesses hit by the Tycor fire in Waterford.
You can work out the monthly repayment on any amount before you apply.
Work out the repayments
Pick an amount, a term and a rate. Fixed repayments, worked out monthly.
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Who can apply
- You are over 18 and have an Irish PPS number.
- The business is in the Republic of Ireland and has fewer than 10 full-time employees.
- Turnover is under €2 million a year.
- The loan creates or keeps at least one full-time job. Your own job counts.
- You have had difficulty getting a loan from a bank or another lender.
Start-ups are welcome. A sole trader can apply before the business is even registered. In the first half of 2026, 57% of the loans Microfinance Ireland approved went to start-ups.
A poor credit history does not stop you applying. They look at whether you are dealing with existing debts and whether the business can afford the repayments.
You do not always need a formal refusal letter from a bank, but they may ask for proof that you could not borrow elsewhere. For a vehicle or machinery loan, a refusal letter from an asset finance provider is required. If a bank refuses you, you can also have the refusal reviewed by an independent State service.
Who cannot apply
Microfinance Ireland cannot lend to:
- property development, renovating to sell or let, or buy-to-let
- gambling, tobacco, weapons, or medical cannabis and CBD businesses
- trading in shares or other financial instruments
- fossil fuel energy production and other high-emission industries
- companies limited by guarantee
- anyone currently in bankruptcy or in a personal insolvency arrangement. People who have been formally discharged can apply
The loan cannot be used to pay off existing bank debt or old Revenue debt.
What you have to send
If the loan is approved, you will need an up-to-date tax clearance certificate before the money is released.
We can prepare your Microfinance Ireland application
Our plan pack fills in Microfinance Ireland's application form from your answers, business plan section included, and builds the 12-month cashflow on their own spreadsheet.
- Their application form filled in from your answers, business plan section included
- Your 12-month cashflow on their own spreadsheet
- A checklist of what to attach, and the few boxes only you can fill
€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.
How to apply, step by step
- Decide whether to go through your Local Enterprise Office. It is free, they can help with the paperwork, and their referral letter takes 1% off the rate. You can find the office for your county.
- Register on the Microfinance Ireland website. They email you the application documents.
- Fill in the form and build the cashflow. Gather the bank statements and accounts.
- Send everything together: through their online portal, by email as PDF files, or by post.
- Wait for the decision. It comes within 10 working days once the application is complete.
- If you are approved, send your tax clearance certificate and sign the loan agreement.
Why applications fail
In 2025 Microfinance Ireland received 1,435 applications. It approved 511 and declined 282. Another 597 were withdrawn.
Microfinance Ireland says its approval rate looks low because of applications "where not all the documentation is submitted". Of the applications it fully assesses, about two in three are approved.
So the biggest risk is an incomplete application. The cashflow is where most people get stuck. It has to run month by month for a full year, and it has to include the repayments on the loan you are asking for.
If you are refused
For loans over €5,000 you can appeal in writing. A different assessor looks at it, and you get a written answer within 15 business days.
A decision on a Small Loan is final. There is no appeal.
Microfinance Ireland suggests waiting about six months before applying again, or until the problems they raised are fixed.
Common questions
Do I have to be refused by a bank first?
Not always. Microfinance Ireland can only lend to businesses that are having difficulty borrowing elsewhere, and it may ask for evidence. If your bank does refuse you, ask it for a referral letter, because a bank referral takes 1% off the interest rate.
Can I apply before I have started trading?
Yes. Start-ups can apply at the very early stage, and a sole trader can apply before registering the business. The Start Up Loan is for a business up to 12 months old, and the first three months are interest only.
Does a bad credit history rule me out?
No. Microfinance Ireland says previous credit history does not prevent you from applying. You need to show that you are dealing with your current debts and that the business can afford the new loan.
How do I get the lower 5.5% rate?
Apply through your Local Enterprise Office, or be referred by your bank after it refuses you. Microfinance Ireland only counts it as a referral if you give it the proper referral letter.
How long does it take?
Microfinance Ireland says you can expect a credit decision within 10 working days of sending a complete application with all the documents. A missing document stops the clock.
Keep reading
- a walk through each page of the current application form
- how many applications were approved, declined and withdrawn last year
Where this comes from
- Microfinance Ireland, loan packages
- Microfinance Ireland, frequently asked questions
- Microfinance Ireland, how to apply
- Microfinance Ireland, application documents
- Microfinance Ireland, exclusions
- Department of Enterprise, Microfinance Ireland progress report, Q4 2025
- Department of Enterprise, Microfinance Ireland progress report, Q2 2026
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.