NI Small Business Loans Fund

As part of its Access to Finance Strategy, Invest Northern Ireland has appointed Ulster Community Investment plc (“UCI”) to manage and deliver the NI Small Business Loan Fund. The aim of the Fund is to ensure that businesses are not held back because they cannot access finance.

Who can apply?

Loans are available for individuals, private companies and social enterprises in the SME and micro enterprise size range, in the start-up and growth phases of development. Such enterprises are defined by the EU as:

• A micro enterprise is defined as an enterprise that has fewer than 10 employees and has either an annual turnover of less than €2million or a balance sheet total not exceeding €2million.
• A small enterprise is defined as an enterprise that has fewer than 50 employees and has either an annual turnover of less than €10million or a balance sheet total not exceeding €10million.
• A medium enterprise is defined as an enterprise that has fewer than 250 employees and has either an annual turnover of less than €50million or a balance sheet total not exceeding €43million.

Businesses applying must be substantially based in Northern Ireland and must provide evidence of funding refusal from the private banking sector.
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