Friday 9 December 2016

Credit union launches SME loan

Charlie Weston Personal Finance Editor

Published 03/03/2010 | 05:00

A CREDIT union in Dublin has launched a small business loan at a rate of 6.11pc.

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Dundrum Credit Union, in partnership with Dun Laoghaire Rathdown County Enterprise Board, said businesses could apply for a loan of up to €40,000.

Applicants must be living, working or operating a business within the Dundrum Credit Union common bond area.

A recent survey carried out among the clients and contacts of the County and City Enterprise Boards found that 43pc of businesses feel credit has worsened in the last six months,

Along with the loan, the county enterprise board will appoint a mentor to all successful loan applications to help them with business planning and management capability.

Loans will be provided for working capital as well as for capital assets -- except mobile assets such as vans/cars. The credit union already has attractive motor finance options available.

Dundrum Credit Union manager Gerry McConville said: "We expect demand will primarily come from early phase applicants who are less then 18 months in business, but we also expect interest from existing enterprises who require access to credit in these difficult times."

For more information, contact Dundrum Credit Union on 01 299 0400.

Irish Independent

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