Thursday 22 March 2018

County Cork businesses benefit from small loans

Twenty nine County Cork businesses have benefited from small loans totalling €481,604 from the government funded not-for-profit lender, Microfinance Ireland last year.

The Microfinance Ireland loans, ranging between €2,000 and €25,000, are supporting the creation and retention of local jobs by providing an alternative source of funding to commercial lenders.

Approximately two-thirds of Cork loans approved by Microfinance Ireland last year either directly, or through the Local Enterprise Offices, went to start-ups.

The remainder went to existing small businesses keen to expand. Nationally Cork was one of the highest performing counties for Microfinance loans for the year.