We are pleased to advise that MFI have announced a significant enhancement on COVID-19 eligible loans.
The main change in these is that MFI now have approval to allow for a six month interest free and repayment free moratorium on COVID-19 eligible loans. This replaces the existing 6 months interest only repayment period originally approved.
This change in policy for the MFI scheme is a significant enhancement and a welcome development.
Here is an updated FAQ in relation to the Microfinance Ireland COVID 19 Business Loan to assist you in your application process, if you need additional support in completing your application please contact the office directly for assistance at firstname.lastname@example.org and we will arrange a call from a Business Advisor or a member of our Mentoring Team.
For our existing MFI customers with an existing performing loan please be advised they you also entitled to a six month moratorium. To avail of this please email MFI directly at email@example.com outlining your need/request and MFI will get back in touch with you directly.
Also, while Alcohol Production is explicitly excluded under MFI’s EIF EaSI Guarantee arrangement, they have obtained approval to include Alcohol Production as an eligible sector. THIS IS ONLY ALLOWABLE FOR COVID19 ELIGIBLE LOANS.
If you have further queries or concerns regarding MFI loans or other business matters please do not hesitate to get in touch. MFI for their part have asked for some patience with their speed of response given the extraordinary levels of enquiries that they are dealing with at present.
The LEO Wicklow Team
Phone: 0404 30800
Local Enterprise Office Wicklow,
Wicklow County Campus,