Microfinance Ireland approves €5.4m in loans

Microfinance Ireland has said 930 jobs were supported in small companies last year, after it approved €5.4m worth of loans.

A total of 357 small companies were supported, out of 752 loan applications.

Microfinance Ireland offers unsecured business loans of between €2,000 and €25,000 to companies with fewer than 10 employees and with a turnover of less than €2m.

All business sectors are eligible to apply for a microfinance loan.

Loans may be used to fund the start-up of a business, the purchase of stock, equipment, machinery and business vehicles and are also available to existing enterprises.