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Majority of microfinance loans went to businesses outside Dublin — Mulherin

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.

 

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