Micro-Finance Options for Individuals & Communities

Cavan-Monaghan LEADER is committed to assisting the development of both community and private based projects in our area. In order to access any of the funding opportunities available through the Rural Development Programme (RDP), it is necessary for communities or individuals to have access to project capital costs in order to implement their project idea.

In addition to the normal financing options through the Credit Unions, Investors or Banks there are a number of other options which offer micro-finance options to either private individuals or community groups. Follow the links below for more information;

Private Individuals / Start-up Enterprises:
First-Step Microfinance provides loans of up to €25,000 to start up or expanding new businesses. First-Step provides loans to people who want to create their own enterprise and who cannot access funding, or sufficient funding, from other sources.

Community based Initiatives / Projects:
Clann Credo provides affordable loan finance to community, voluntary and charitable organisations, community businesses and social enterprises throughout Ireland. Clann Credo provides maximum loans are up to €500,000 over a period up 7 years.

Ulster Community Investment Trust Ltd (UCIT) provides loans and free support for community organisations and social enterprises in both Northern Ireland and in the Republic of Ireland.

These micro-finance agencies are independent of CML and approval of a loan from any of these agencies does imply that grant-aid would be provided through the CML RDP. Whilst we have added these links for your convenience, CML does not recommend any of these micro-finance agencies.

If you are interested in applying for support through the Rural Development Programme please review our section on the RDP Application Process carefully or contact us directly by emailing support for further information.