10% (APR 10.47%)
Kilrush Credit Union has established the Business Loan to provide a flexible and convenient source of credit for those looking to set-up or expand their existing small business.
A loan to an individual for purposes related to their trade, business or profession will be considered a business loan. Looking to buy a new vehicle, equipment etc, talk to us today about your loan requirements. The max amount we can lend for business purposes is €50,000 over 10 years.
Try out our Loan Calculator
Maximum Loan Term :
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
What do I need to apply?
To assess a business loan application the following supporting documentation is required:
- Two years financial accounts (the most recent available)
- The most recent Revenue chapter 4 self assessment & Form 11
- 3-6 months bank statements
- 2 payslips, or evidence of any non-business related income
- Tax Clearance Certificate / letter from your accountant confirming tax affairs are up to date
- For amounts greater than €25,000 a business plan must be provided, including projections for 3 years. We will provide you with an electronic business plan to be completed
- Any other supporting documentation which may assist in your loan application, including evidence of loan purpose
*A comprehensive business plan should include at a minimum:
- Executive summary
- A company description
- Market analysis
- Current sector/market position
- Staffing and operations
- Financial projections including:
- Key assumptions
- Profit and loss accounts
- Balance sheet, and,
- Cash flow projections for 3 years
Security may be required. Types of security which may be required include the following:
- A pledge of your shares
The type and level of security required will be reasonable and will depend on the level of credit being sought, the term of the credit agreement and the overall level of risk which applies to the credit facility. The level of security sought will have regard to the nature, type and value of the security offered.
To apply for a Business Loan, you must be a member of Kilrush Credit Union. If you are not already a member, go to the membership page on our website for eligibility criteria or call into your nearest credit union office.
Alternatively, if you are already a member and would like to find out more about our Business Loan, the documents required, the application process or to get started with an application simply make an appointment with the Business Loans Officer at Kilrush Credit Union.