There are two interest rates on MFI`s COVID-19 commercial loans: Whether you need to buy shares or grow your business, we`re here to help you every step of the way. If you want to make a full or partial repayment of a term loan before the expected date of the last repayment, you can request a prepayment fee in writing from your local branch before the early repayment of a term loan. Whether it`s growing your business or keeping things moving when it comes time for a loan, we`re here for you. A business term loan helps give your business longer-term financial security. Offer discounted financing to companies looking to implement energy-saving initiatives to reduce their carbon footprint and costs. Whether you are looking for financing for expansion purposes or to manage cash flow, we have a number of conditions available as well as competitive interest rates, so tell us about your loan needs. If your business` cash flow is affected by COVID-19, a short-term business loan may be the solution to support your business. With three ways to apply, including online, business banking is possible remotely. We have two types of loans available.

Fixed-rate loans – Borrow up to €60,000 with the certainty of a fixed interest rate and with no prepayment fees. * The maximum loan amount is €25,000 for all applicants. Existing MFI clients can apply for up to €25,000 with a maximum credit risk of €50,000. Although all loan applicants from MFIs must be able to prove that they have difficulty accessing financing from banks and/or other lenders, a formal bank rejection letter is not required. *Models available on microfinanceireland.ie/loan-packages/covid19/. We can help you with your financial needs and support your plans to grow or diversify your business. Only interest and principal moratoriums and interest up to 3 months at the start of your loan at the discretion of the bank For commercial loan applications completed online, the average driving time is 15 minutes. Bank of Ireland uses automated decision-making to process applications online and over the phone. If you do not agree with the result, you can contact us and have these decisions reviewed by a member of our team. Another way to invest in your business is to look at how you spend your money. Find out how to take control of your finances by clicking here. The interest rates shown include a discount of 0.5% on the margin that the bank applies to the small business agricultural rate for loans up to a maximum of €300,000.

To apply for a COVID-19 business loan, the company must meet the following eligibility criteria: Existing IMM customers can apply for up to €25,000 under a COVID-19 loan, provided they meet the specific eligibility criteria for that product and their maximum credit risk does not exceed a maximum of €50,000 (including the loan currently requested). There are a number of sectors that MFIs cannot support, including gambling, tobacco and illegal economic activities. For more information, see microfinanceireland.ie/exclusions-covid19/. The reference interest rate and margin are determined by the loan amount. For loans below €250,000, the variable interest rate is composed of the Small Business and Agriculture (SBAR) rate with a margin of 2.29% – the SBAR rate is a BOI reference rate according to SME regulations. The SBAR rate is 0.66% (as of 26.08.2021) and is subject to change. For current SBAR rates, see The Business Banking Reference Rates section | Bank of Ireland Let us help you modernise your business with equipment, machinery or vehicles with financing from €7,000 The sbci Brexit Impact Loan Scheme is designed to finance working capital and investments of businesses affected by Brexit and Covid-19. Interest rates and new business volumes are collected by credit institutions with significant lending or deposit activities with households or non-financial corporations. These harmonised statistics shall be used for the analysis of monetary developments and the monetary transmission mechanism and for the monitoring of financial stability. Monthly interest rate statistics cover all euro-denominated agreements with households and national contacts in the euro area, while quarterly interest rate statistics cover the use of mortgages in the Republic of Ireland, broken down by type of interest. A term loan is a way to finance capital expenditures that your business might need.

It can be used in conjunction with other credit products such as an overdraft facility or as a stand-alone source of financing for various business purposes, including acquisitions, working capital, business expansion or real estate investments. The reference interest rate and margin are determined by the loan amount. For loans of less than EUR 250 000, the Small Business and Agriculture (SBAR) rate with a margin of 2.12% is applied. Enter an all-inclusive variable interest rate of 2.78%. For loans with a value equal to or greater than € 250,000, 3-month bank fees (3M BCOF) with a margin of 2.6% are applied. With a variable overall interest rate of 2.75% Note: The above information is correct on 23.11.20. The two reference sentences are published here daily. The Competition and Markets Authority is asking us to publish the results of an independent quality of service survey for business customers with a current account in Northern Ireland. The results can be found here. Important information: This information is provided for information purposes only and does not constitute a loan approval or a contract with AIB.

The results are based on a fixed interest rate, which remains unchanged for the duration of the loan. You may be eligible for other financing options that may be more appropriate. So come talk to us today to discuss the options and apply. If another loan product is more suited to your banking needs, you can talk to us by phone on 0818 47 88 33 (Monday to Friday from 9am to 5pm) or at the branch. A term loan offers you more structured longer-term financing over an agreed term, which depends on the life of the asset to be financed. Interest rates are variable and fluctuate according to market interest rates. There are also fixed-rate loans for which certain conditions apply. Invoice financing solutions allow your business to raise working capital by converting trading debt into cash from the get-go. Loan financing up to €25,000 for businesses affected by Brexit from 1 January 2021 In our practical guide, you will learn what you need to apply for financing.

Note: Prepayment fees may apply. Please speak to your business partner for more information. The criteria and conditions of the loan apply. Credit facilities are subject to repayment eligibility and financial situation and are not available to persons under the age of 18. Security may be required. The loan is only available to residents of the Republic of Ireland. You can view our Policy Statement on Variable Rates for Business Banking here. If an online application is not for you, talk to an experienced business advisor by calling us on 0818 47 88 33 to guide you through the application. .

Flexible repayment options allow you to structure your monthly, quarterly, semi-annual and annual repayments by prior arrangement. The terms and conditions of the loan criteria apply. Bank of Ireland UK adheres to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board. A copy of the brochure „Statement of The Responsibilities of the Lender and Borrower to Business Customers” is available here: The amount of security required and the applicable interest rate are determined by the amount, purpose and duration of the facility in conjunction with the type and value of the collateral offered. The criteria and conditions of the loan apply. Only over 18 years old. Maximum credit of €120,000 for online and telephone applications. For amounts over €120,000, please contact your account manager or local office. .

Microfinance Ireland (MFI) was funded by the Strategic Banking Corporation of Ireland (SBCI). We are open Monday to Friday from 9am to 5pm and do not need to fill out an application form. MFIs shall also benefit from support from the EGF Guarantee Instrument implemented by the European Investment Fund with the financial support of the Member States contributing to the EGF. . The following tables of retail interest rates are also available here in CSV format ** Exceptionally, capital expenditures of up to 5 years can be financed. If your bank doesn`t provide you with the service you need, why not switch to a service that does. Loans ranging from €5,000 to €25,000 are available for micro-enterprises that meet the ELIGIBILITY criteria for the COVID-19 loan. If you`d like to speak to a business consultant in person, you can call their local office or make an appointment. *3 out of 4 online applications receive an immediate decision. Microfinance Ireland`s COVID-19 business loan is available for micro-businesses affected by the coronavirus pandemic in Ireland. Covid-19 support, including government loan programs Click here….