Grace Boland (Dublin Fingal West, Fine Gael)
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723. To ask the Minister for Enterprise, Trade and Employment if he will clarify how MicroFinance Ireland’s funding is accounted for in the Revised Estimates for Public Services 2025; and if he will make a statement on the matter. [47055/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Microfinance Ireland (MFI) is funded through periodic capital injections from the Exchequer, which are administered via the Department of Enterprise, Tourism and Employment. These funds are utilised on a revolving basis, whereby loan repayments received from borrowers are reinvested to support ongoing lending activity. This approach ensures the sustainability of the Microenterprise Loan Fund Scheme, enabling Microfinance Ireland to continue providing loans of up to €50,000 to viable microenterprises that are unable to secure credit through traditional banking channels.

Since MFI establishment in 2012, the State has contributed a total of €49.8 million to the Microenterprise Loan Fund, with the most recent contribution of €5 million in 2021. As of 31 December 2024, the Fund has a balance sheet value of approximately €27.8 million, including a cash reserve of €16.6 million.

There is a €1,000 allocation included in REV 2025 which is a technical provision intended to provide administrative flexibility should supplementary funding be required during the year. Should any substantive additional funding needs arise these would be subject of approval by the Dáil through a Supplementary Estimate.

Grace Boland (Dublin Fingal West, Fine Gael)
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724. To ask the Minister for Enterprise, Trade and Employment if he will provide a breakdown of MicroFinance Ireland loan approvals, by county and sector to date 2025; and if he will make a statement on the matter. [47056/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Microfinance Ireland (MFI) plays a vital role in supporting microenterprises by addressing a gap in the lending market, specifically by providing finance to microenterprises that are unable to secure loans from traditional commercial lenders. It provides loans of €2,000 up to €50,000 to businesses that do not meet the conventional risk criteria applied by commercial lenders and applies interest rate charges for its lending which are not reflective of its credit risk.

The loan term is typically three years for working capital purposes and can be extended to five years for capital expenditures. Interest rates range from between 5.5% for clients of Local Enterprise Offices and other partners to 6.5% for direct applications.

Since its establishment in 2012 to 30 June 2025, MFI has approved over €98.6 million in loans, supporting 11,628 jobs across 5,849 microenterprises.

In addition to financial support, MFI provides post-approval mentoring services to its borrowers through the Local Enterprise Office network, helping to build business capability and resilience

In 2025 approximately 80% of loan approvals have been granted to businesses outside of Dublin.

The number and value of loan approvals by county are as follows:

The number and value of loan by sector are as follows:

Grace Boland (Dublin Fingal West, Fine Gael)
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725. To ask the Minister for Enterprise, Trade and Employment the proportion of MicroFinance Ireland loans in 2025 that have been granted to start-ups versus established businesses; and if he will make a statement on the matter. [47057/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Microfinance Ireland (MFI) plays a key role in supporting microenterprises by addressing a gap in the lending market providing finance to businesses that are unable to access credit through traditional commercial lenders.

In August 2024, I increased the maximum permitted loan available through Microfinance Ireland (MFI) from €25,000 to €50,000. This enhancement has broadened the scope of MFI’s offering and led to a marked increase in demand from microenterprises seeking higher-value loans.

The definition of Start Up for Microfinance Ireland refers to businesses that have been in existence for up to 18 months. During the six-month period ending June 2025, Microfinance Ireland has approved loans for 255 businesses amounting to €6.027m. Of these approvals 116 (45%) amounting to €2.4m were to Start Up businesses and 139 (55%) amounting to €3.6m were to Established businesses.

Since its establishment in 2012 to 30 June 2025, MFI has approved over €98.6 million in loans, supporting 11,628 jobs across 5,849 microenterprises.

Grace Boland (Dublin Fingal West, Fine Gael)
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726. To ask the Minister for Enterprise, Trade and Employment the steps that are being taken to ensure that microenterprises in rural and disadvantaged areas are aware of, and can access, MicroFinance Ireland supports; and if he will make a statement on the matter. [47058/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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Microfinance Ireland (MFI) is committed to supporting businesses that are unable to access finance through traditional commercial banks. As such, MFI’s borrowers typically represent a more vulnerable cohort, having been excluded from mainstream lending channels.

In 2025 approximately 80% of loan approvals have been granted to businesses outside of Dublin.

To raise awareness and reach prospective borrowers, MFI implements a comprehensive marketing strategy, including national and local radio campaigns and targeted social media outreach. Its most recent radio campaign ran for four weeks from late July to the end of August 2025, with advertisements broadcast across all 26 counties. In addition, MFI hosts monthly webinars for potential applicants to explain the application and assessment process.

MFI works closely with Local Enterprise Offices (LEOs) and Local Development Networks nationwide, delivering webinars and participating in in-person events that are actively promoted through social media. It is also a key participant in National Women’s Enterprise Day events, organised by the LEOs. In March 2025, MFI hosted a special National Women’s Enterprise Day webinar featuring one of its customers, which was widely promoted and well attended by participants from across the country.

MFI is a prominent contributor to the National Enterprise Hub (NEH), where it is among the most recommended supports by NEH advisors due to its broad applicability to microenterprises that are unable to access funding elsewhere.

Further outreach includes engagement with Údarás na Gaeltachta to promote MFI’s loan offerings in Gaeltacht areas, as well as the provision of a dedicated Agriculture Loan product tailored to farmers and primary food producers.

MFI also maintains strong links with the wider business community attending events including the National Ploughing Championship. It sponsors the Emerging New Business category in both the SFA National Small Business Awards and the National Start-Up Awards, and supports the LEOs’ National Enterprise Awards through social media promotion.

In addition, MFI collaborates with the organisers of the Back for Business and ACORNS programmes, which support returning emigrant entrepreneurs and rural female entrepreneurs respectively. MFI has presented modules on the TU Dublin programmes for Entrepreneurship for People with Disabilities and Entrepreneurship for Migrants and participated in webinars hosted by The Open Doors Initiative focused on supporting the migrant community.

Through these targeted outreach efforts and strategic partnerships, MFI continues to play a vital role in ensuring that microenterprises, particularly those in rural and disadvantaged areas are both aware of and able to access the supports available to them.