Microfinance Ireland
Microfinance Ireland Business Loan
aka MFI Loan, MFI Business Loan
Unsecured business loans of EUR2,000 to EUR50,000 for microenterprises that have been declined credit by a bank.
EUR2,000 to EUR50,000 unsecured loan
Last reviewed May 2026
What this scheme funds
Microfinance Ireland is a not-for-profit lender backed by the Department of Enterprise, Tourism and Employment. It exists to provide credit to microenterprises (fewer than 10 employees) that have been declined a commercial bank loan or cannot access one on workable terms. Loans range from EUR2,000 to EUR50,000, are unsecured, and typically run over three to five years. Pricing is preferential when the application is made via a Local Enterprise Office referral. Funds can be used for working capital, equipment, vehicle purchase, business expansion or refinancing of expensive existing credit. While not a grant, MFI loans are the most common source of patient working capital for new sole traders and limited companies that are not yet bankable.
Application window
Rolling - apply direct or via your Local Enterprise Office
Who can apply
- •Microenterprise with fewer than 10 employees
- •Turnover less than EUR2 million
- •Has been refused commercial bank finance or cannot access reasonable terms
- •Commercially viable business plan and cashflow
How it typically funds software
- •Working capital to fund the first year of SaaS subscriptions
- •Equipment finance (laptops, POS hardware) that complements a software rollout
Worth knowing
Apply via the LEO route to access the preferential interest rate.
Software categories this can fund
Related grants
Local Enterprise Office
Priming Grant
Capital and salary support for a new microenterprise in its first 18 months of trading, up to EUR150,000 toward eligible costs.
Local Enterprise Office
Trading Online Voucher
Up to EUR2,500 on a 50:50 cofunded basis to build or enhance an e-commerce website, run digital marketing, or migrate to a new online platform.