Search Results for 'Microfinance'
15 results found.
Burke urges Mayo credit unions to sign up to Personal Micro Credit Scheme to help people avoid moneylenders
Fine Gael Mayo senator, Paddy Burke, has welcomed the nationwide extension of the Personal Micro Credit Scheme by Minister for Social Protection Leo Varadkar, and urged all credit unions in Mayo to sign up, saying it will help local people to avoid moneylenders.
Mayo Fine Gael TD, Michelle Mulherin, has welcomed the findings of a review of Microfinance Ireland (MFI) which has been published by the Department of Jobs, Enterprise and Innovation. MFI provides loans of up to €25,000 to businesses which employ 10 people or fewer and which are not able to access credit from traditional sources like banks. The report found that in its first two years of operations, MFI received 729 applications for loans, supported 743 jobs in 333 micro-enterprises, and approved loans valued at more than €5 million.
Online trading vouchers to the value of €2,500 are now available for small businesses through your Local Enterprise Office.
A series of seminars aimed at helping small businesses to access finance will begin next month.
“Micro Finance Ireland allows micro-enterprises to get working capital in an easy and cost-effective manner. Over €3.5 million has been approved by Microfinance Ireland to just over two hundred micro-enterprises. That working capital is supporting almost 500 jobs. It is great to see this support for small business and a brilliant briefing to have ahead of Mullingar Chamber’s AGM,” according to Pat Whelan, chamber president.Pat was speaking at the Micro Finance Ireland (MFI) business briefing to chamber members recently.
The success of the Midlands Think Tank, which was the brainchild of, and driven by, the directors and staff of Midas Technologies, shows us what can be achieved, and the opportunities that lie ahead, for the small business sector, that is according to local TD, Willie Penrose.
A cap on the interest that can be charged by moneylenders in Ireland must be introduced by the Central Bank in order to stop them “preying on the poor”.
Bank of Ireland is hosting a series of 100 credit clinics for small and micro businesses throughout the country.
Small enterprises in Galway will have a better chance to gain access to funds following the signing of a new deal between Microfinance Ireland and the European Investment Fund.
There is some welcome news for small businesses in Mayo which have been refused credit by the banks. Under a new Government scheme, operated by Microfinance Ireland, the owners of ‘micro-enterprises’ and new start-ups can now apply through the Mayo County Enterprise Board for loans of up to €25,000.