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Microfinance Ireland . Lorna Coleman Business Development Manager. Microfinance Ireland.

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microfinance ireland

Microfinance Ireland

Lorna Coleman

Business Development Manager

microfinance ireland1

Microfinance Ireland

Set up by the Government to provide loans to newly established or growing microenterprises, with commercially viable proposals that do not meet the conventional risk criteria applied by commercial banks.

MFI is ‘additional’ lending which would not otherwise be provided by banks. Banks remain the primary and dominant supplier of finance to microenterprises.

Loans to top up bank credit may be available in certain cases where it is clear that the business would not go ahead without MFI

definition of a micro enterprise
Definition of a Micro-enterprise?
  • Less than 10 staff & turnover < €2m
  • Estimated to account for over 90% of businesses in EU and Ireland
  • May be a start up or an existing business
assessment criteria
Assessment Criteria
  • MFI will assess a loan application based on a number of criteria;
    • A realistic business plan including cash flow projections
    • Proven business models with prospect of near term cash flow
    • The number of new jobs and social impact
    • An interview with the entrepreneur to assess; skills, character, viability of the plan and commitment to the business
    • A financial commitment by the entrepreneur although not mandatory is desirable
  • Adverse credit history / absence of credit history will not preclude a loan provided there if full disclosure and evidence that debts have been dealt with honourably
microfinance ireland s upporting the government s action plan for jobs
Microfinance Ireland Supporting the Government’s Action Plan for Jobs

Business Activity

  • 276 jobs supported
  • €1.89m approved to 122 micro-enterprises
  • 46% approval rate
  • 59% start-up businesses / 41% existing businesses
  • 80% approvals to business with 3 or fewer employees
how to apply to microfinance ireland
How to apply to Microfinance Ireland

CEBs (County & City Enterprise Boards)

Direct Channel

Applicants can choose to send in applications directly to -

Microfinance Ireland

Jefferson House

Eglinton Road


Dublin 4.


  • Through the nationwide network of 35 Local Enterprise Offices (CEBs)


application forms a vailable from
Application forms available from