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Credit Union Business Loan
We’ll make it our business to give your business a helping hand. Whether you’ve set up a new venture or you’ve served our community for years, we’d love to jump on board and help you reach your goals with a Credit Union Business Loan.
Apply for a Business Loan today or work out an affordable repayment plan using our handy Business Loan Calculator.
If you’re looking to open a business account or move your business account to Croi Laighean Credit Union, click here to find out more.
Why choose a CLCU Business Loan
- No set-up fees or hidden charges
- Affordable loans tailored to your repayment ability
- Large range of business loans with rates from 5%
- Interest calculated only on the outstanding balance of the loan
- Fair and transparent lending process
To apply, you must be a member of Croí Laighean Credit Union
Loan calculator
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Business Loans Terms and Conditions:
– Security may be required.
– A business plan is required for all loan requests. This should include the current structure of your business, key personnel, and plans for the proposed borrowing.
– An existing business must have a current tax clearance certificate, certified/audited accounts, and a business plan.
– Other lending criteria, terms, and conditions may apply.
Repayment Examples:
Business Covered loan
A covered loan of €20,000 over a 5-year period would cost €387pm at a variable rate of 6% (APR 6.17%). The cost of credit is €3,199 and the total amount repayable is €23,199
Standard business loan
A standard loan of €50,000 over a 10-year period would cost €661pm at a variable rate of 10% (APR 10.47%). The cost of credit is €29,290 and the total amount payable is €79,290
Stocking Loan
A stocking loan of €10,000 over a 1-year period would cost €872pm at a variable rate of 8.5% (APR 8.84%). The cost of credit is €466 and the total amount repayable is €10,466
Business Consolidation Loan
A business consolidation loan of €20,000 over a 5-year period would cost €430pm at a variable rate of 10.5% (APR 11.02%). The cost of credit is €5,793 and the total amount repayable is €25,793
Secured Business Term Loan
A secured business term loan of €150,000 over a 25-year term would cost €877pm at a variable rate of 5% (APR 5.13%). The cost of credit is €113,066 and the total amount repayable is €263,066
Set Up/Expansion of Existing Business Loan
A setup/expansion of a business loan of €20,000 over a 5-year term would cost €396pm at a variable rate of 7% (APR 7.23%). The cost of credit is €3,761 and the total amount repayable is €23,761
Working Capital Loan
A working capital loan of €20,000 over a 3-year term would cost €636pm at a variable rate of 9% (APR 9.41%). The cost of credit is €2,896 and the total amount repayable is €22,896
Business Plant & Machinery/Expenditure
A business plant & machinery/expenditure loan of €20,000 over a 5-year term would cost €401pm at a variable rate of 7.5% (APR 7.76%). The cost of credit is €4,046 and the total amount repayable is €24,046
While every care has been taken in the production of this web page, the Credit Union, or any of its staff, cannot be held responsible for any omissions, errors, or other mistakes on the site. Our Business Loan Calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing.
Loan amounts and 99% approval rate are based on figures from 2020. Rates are correct as of 1/02/2022 and are subject to change. Croí Laighean Credit Union is regulated by the Central Bank of Ireland.
Apply for a loan today
Need some help or advice?
Our member services or dedicated Business Development Managers are on hand to help in any way we can.