Western Development Commission: loans and investment for businesses in seven western counties

What the Western Investment Fund offers

The fund began in 2001 with €31.75 million from the Exchequer. It reinvests what it earns, and it has put €101.8 million into 373 businesses, social enterprises and community projects since then.

Business loan rates are reviewed every year. The Commission says it will consider shorter or longer loan terms in exceptional cases.

Who can apply

The business must be registered, headquartered and controlled in one of the seven counties, with its key functions managed there. A business relocating to the region can also apply.

The fund checks where the registered office is, where most of the work is done, where decisions are made, and where more than half of the promoters and managers live.

The sectors it lists are cleantech, creative industries, food and natural resources, information and communications technology, manufacturing and internationally traded services, medtech and life sciences, and tourism.

Every application is assessed on commercial viability, growth potential and the return the fund can expect for the risk. It also looks for a strong management team with a track record, a product or service with its own intellectual property, and a competitive advantage. For a loan, it looks at your capacity to repay.

Who cannot borrow

• Businesses based outside the seven counties.
• Businesses that need less than the usual €50,000 minimum. The national lender for loans of €2,000 to €50,000 is the place to start for smaller sums.
• Businesses that cannot show positive cashflow and an ability to repay over the agreed term.
• Companies raising money from public bodies alone. Public funds, including the Commission's, cannot make up more than 50% of an investment round.
• Community groups that want to refinance an existing loan or pay for a feasibility study. Community loans are for new activity only.

In Donegal, a small business can also look at the county's own enterprise fund, which lends under €25,000.

Community groups and social enterprises

The Community Loan Fund lends to community and voluntary groups, charities, co-operatives and social enterprises in the same seven counties. Loans run from €50,000 to €200,000 over up to 10 years. The fund's March 2026 fact sheet gives the rate as 3% APR.

It does not ask for personal guarantees or charge arrangement fees. Most of its loans are unsecured, and there is no penalty for repaying early.

A social enterprise judged strategic for the region can borrow up to €1 million over up to 20 years. To count as strategic, a project must have an impact across at least three of the counties, or across a whole sector, and support 100 or more jobs.

The fund also bridges LEADER grants, which are paid only after the money has been spent. The rate is 3% a year. If the loan runs past 12 months, the charge rises to 6% of the outstanding balance.

Two national social lenders do similar work across the country: Clann Credo, a Dublin charity, and Community Finance Ireland, which also lends in Northern Ireland.

How to apply, step by step

1. Check that your business passes the location test and fits what the fund looks for.
2. Ring the investment team on 094 98 61441 if you want to talk it through first. It has staff in Donegal, Sligo, Roscommon and Galway.
3. Register on the Commission's online application portal and make a funding enquiry.
4. Complete the application form on the portal and upload your business plan and supporting documents.
5. The investment team assesses the application. If you are funded, your progress reports go through the same portal.

The Commission does not publish how long a decision takes.

Creative industries

The Commission's investment page also names a Creative Micro Loan fund and the WRAP Fund for audiovisual businesses.

The page describing them was not available when we checked on 3 October 2026, so we cannot confirm the amounts or whether they are open. Ask the investment team.

Common questions