What are microfinance loans and am I eligible to get same ?

Business Loans called microfinance loans are  available through the Local Enterprise Office.
• Unsecured loans from €2,000 up to €25,000
• Term from 3 to 5 years
• Reduced Interest Rate 7.5% (7.8% APR) for LEO clients
• Flexibility on repayment terms

Sole Traders, Partnerships and Limited Companies with fewer than 10 employees and an annual turnover of less than €2m are eligible to apply. Unlike some of the other financial supports available from the LEO, all business sectors are eligible to apply. Loans can be used to fund start-ups, existing and growth microenterprises and can be used for working capital or the hiring of new employees, the purchase of stock, equipment, machinery and business vehicles.

By applying through the Local Enterprise Office you will get :
• 1% reduction on normal interest rate of 8.5% (8.8% APR)
• Assistance and feedback on application
• Business advice and support

For more information, I would advise ringing the local enterprise office in Woodquay, Galway on 091 565384 to make an appointment

Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie