Killarney Credit Union

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Loans

Great rates, flexible options and friendly local service.

 
Beech Road

064 KillarneyCU6631344

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Park Road

064 KillarneyCU6637800

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Kenmare

064 KillarneyCU6642111

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Beech Road

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Park Road

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Kenmare

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Killarney Credit Union

Loans

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Business / Agri Loan

Helping your small business grow

We help businesses achieve their growth potential. We will consider loan applications from all types of small businesses e. g trades people, retail, services, hospitality sector, manufacturing, farming etc. Killarney Credit Union is supportive of local businesses and will work with the Kerry Local Enterprise Office and local development companies to support your application.

 

Why a business loan is better with Killarney Credit Union

  • You can borrow up to €50,000 at a very competitive rate.
  • Loans for all types of business activity may be considered.
  • Loans are assessed by an experienced business lending team.
  • We can work with external business support agencies to progress your application for finance.
  • Bridging finance may be available for short term cash injections into the business (6 months or less).
  • No administration fees or hidden charges.
  • Interest is calculated on the reducing balance of your loan.
  • You can repay the loan off earlier without penalties.
  • Members get free loan protection (subject to terms and conditions).

 

 

Loan Repayment Table

Amount Term APR* Monthly Repayments Total Cost of Credit
€2,000 1 Year 6.2% €172.13 €2,065.47
€5,000 3 Years 6.2% €152.10 €5,475.36
€10,000 5 Years 6.2% €193.33 €11,598.46
€15,000 10 Years 6.2% €166.58 €19,979.08
€20,000 10 Years 6.2% €222.11 €26,638.82
€30,000 10 Years 6.2% €333.17 €39,958.38
€40,000 10 Years 6.2% €444.22 €53,278.38
€50,000 10 Years 6.2%

€555.28

€66,598.05

 

Typical APR variable Business Loan rate (6.2% APR). Lending terms and conditions apply. Loans are subject to approval. Table is for illustration only and does not constitute a contract. Figures correct as at September 2016. 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.

 

 

Documentation Requried

  • Completed application form - Simply call to any of our three branches and our staff will be happy to assist you.
  • Proof of Identity - e.g. passport, driver’s license
  • Proof of Current Address (last 3 months) - e.g bank statements, utility bill, social welfare letter, government document etc
  • Business Status:

Business Status:

  • Memorandum and Articles of Association (for companies)
  • Last 2 years Notice of Assessment and Form 11
  • Accounts (2 years accounts including Profit & Loss and Balance Sheet)
  • Current Tax Clearance Certificate or Tax compliant letter from accountant
  • Current Bank Statements - will be required (last 6 months)
  • Business & Marketing Plan
  • Financial projections / Cash Flow Statement
  • Certified Statement of Personal Assets & Liabilities
  • Other information deemed necessary by the credit union

 

Business Loan Terms & Conditions

  • Maximum loan amount is €50,000 (net of shares).
  • Maximum term is 10 years (this may be extended subject to approval by credit union).
  • Quotations for the work to be carried out to be provided.
  • Security may be required.
  • Business credit references may be requested.
  • We may seek your permission to complete a credit bureau check with your application.
  • Limited companies are ineligible for insurance cover under business lending products

 

 

Download the information leaflet as a PDF

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