How to Get a €25,000 Business Loan in Ireland (When Banks Say No)
CORK – Starting a business in Ireland is exciting, but funding it is hard. Traditional banks (like AIB, BOI, or PTSB) often reject startups because they have no trading history.
So, where do you get the cash to buy stock, equipment, or a van?
Enter Microfinance Ireland (MFI). This government-funded lender is designed specifically to help businesses that banks won’t touch.
🏛️ What is Microfinance Ireland?
MFI provides unsecured business loans ranging from €2,000 to €25,000.
- Who is it for? Startups, sole traders, and small companies with fewer than 10 employees and less than €2m turnover.
- The best part: They look at you and your business plan, not just your credit score computer algorithm.
💰 Key Loan Features (2026)
- Interest Rate: Approximately 5.5% to 6.5% (which is very competitive for an unsecured loan).
- Discount: If you apply through your Local Enterprise Office (LEO), you often get a 1% discount on the interest rate.
- Repayment: Terms typically range from 3 to 5 years.
✅ Am I Eligible?
To qualify in 2026, you usually need:
- A Rejection Letter: Proof that a high street bank refused your loan application (or an indication that they would).
- A Business Plan: A simple document showing how you will make money and repay the loan.
- Location: Your business must be registered and based in Ireland.
🚀 How to Apply (Insider Tip)
Do NOT apply directly on their website first.
- Step 1: Contact your Local Enterprise Office (LEO).
- Step 2: Ask them to help you with the MFI application.
- Benefit: This increases your approval chance significantly and gets you the lower interest rate!
Conclusion A “No” from the bank is not the end of your startup dream. Microfinance Ireland has funded thousands of plumbers, bakers, and tech startups. If you have a solid plan, the money is there waiting for you.
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