Businesses to get the credit they deserve says head of the leo
The head of the Local Enterprise Office in Westmeath says their aim is to assist “the small business community in gaining access to the credit they need now”, having teamed up with MicroFinance Ireland to launch a new type of loan.
LEO MicroFinance will offer between €2,000 and €25,000 at a reduced interest rate, and applicants will benefit from advice and support during the application stage – start-ups and small businesses can now apply directly for the new package.
Loans are generally unsecured and can be used for working capital, equipment, hiring new employees and marketing. Start-ups and small businesses across all industries and sectors, which employ fewer than 10 people, are being encouraged to apply if they are finding it difficult to access credit.
Christine Charlton, head of Local Enterprise at the LEO Westmeath, said: “Through this partnership, our aim is to assist businesses to develop and grow. If microenterprises are the driving force behind the Irish economy, access to credit is critical for recovery and job growth, and this new loan partnership is a welcome addition to the range of supports, now available through Local Enterprise Office Westmeath.
“We understand that getting access to credit can be difficult, especially for people getting new ventures off the ground. By partnering with MicroFinance Ireland, Local Enterprise Offices can now offer a tailor-made loan product to our small business clients, at a reduced rate for the term of the loan, in addition to our other enterprise supports.”
MicroFinance Ireland will be have a stand at the ‘Here to Help Small Business’ events (see panel) organised by LEO Westmeath in Mullingar on September 23 and Athlone on September 30.
• localenterpriseoffice.ie/westmeath; microfinanceireland.ie