ENI Loan Fund

enilogo.jpgA partnership of funders (Enterprise Northern Ireland, Invest Northern Ireland, The International Fund for Ireland and The European Union) has been established to provide individuals with access to the capital needed in order to launch a new business or to expand an existing one.The fundamental aim of the Enterprise Northern Ireland Loan Fund is to make funding more accessible to those starting or operating a small business and in support of the loan, to provide advice on cash-flow and other business advice.

The ENI Loan fund provides the following;

Start-up Business

  • Loans of between £1,000 to £10,000
  • Repayable over 1 year to 3 years
  • Fixed interest rate of 6% (APR 11.4% to 11.7%)

 Existing Businesses (businesses trading for at least 2 years)

  • Loans of between £1,000 to £25,000
  • Repayable over 1 year to 5 years
  • Fixed interest rate of 4% (APR 7.6% to 7.8%) 

The interest rate is fixed at the time the loan is approved and remains so for the duration of the loan

Eligibility criteria;

All applicants must:

  •  Be resident in the UK, over 18 years of age and be responsible for running the business
  • Be able to demonstrate a commercially viable business proposal to support the loan
  • Not currently be in an IVA, subject to a CCJ or bankrupt

 All businesses must:

  • Be based in Northern Ireland
  • Be legal, moral, non-discriminatory and not undertake any activity which may offend public taste
  • Have been trading for over 2 years before they are eligible for increased funding levels repayable over longer periods

Applicants must be able to demonstrate a viable business proposal to support the loan and loans can be used to help start and grow your business through:-

  • Purchase of machinery/equipment
  • Provision of additional working capital – for business development
  • Payment towards other expansion costs.

All applicants will be assessed by the Enterprise Northern Ireland Loan Fund team

Need more information?

For all enquires regarding the ENI Loan Fund please contact Dana on dana@cookstownenterprise.com or by phone on 02886763660 or use the form below: