Dundrum Credit Union has introduced a Small Business Loan Scheme, a loan designed to support small businesses. This means that substantial funds are now available to successful applicants as a personal loan for business purposes.

More than a loan

It’s not just about money - the aim is to provide a package of assistance. The scheme is provided in partnership with Dun Laoghaire Rathdown County Enterprise Board. The package includes professional business mentoring and enterprise supports, to improve the chances of success.

What can the loan be used for?

Loans will be provided for working capital as well as for capital assets – except mobile assets such as vans or cars. Dundrum Credit Union already has attractive motor finance options available.

Who can apply?

Members of the credit union or those eligible for membership are invited to apply at the credit union. The scheme is aimed at those involved in existing small businesses or considering a start-up venture.

How much can I borrow?

Loans of between €5,000 and €40,000 are available under the scheme. The maximum repayment period is 5 years. The interest rate is 5.95% (6.11% APR) variable. The loan is to the individual, NOT the business i.e. a personal loan for business purposes.

When do repayments begin?

Loan repayments must commence within three months of loan draw-down in accordance with the loan agreement. Loan interest is charged from the date of draw-down.

Anything else I need to know?

As well as a completed loan application form, all applicants must submit a basic business plan, with full financial projections for a minimum 3 year period. Existing businesses must also provide a copy of their latest set of audited accounts and bank statements.

Ready to do business?

For an application form, or for more details, contact Dundrum Credit Union today.

Phone 01 299 0400, email info@dundrumcu.ie or call in to talk to us at any of our offices:

Dundrum office:

Main Street, Dundrum, Dublin 14

Ballinteer office:

Ballinteer Shopping Centre, Ballinteer Avenue, Dublin 16

Sandyford office:

Balally Shopping Centre, Sandyford, Dublin 16