SME Business Loans & Agri Loans – 6.50% (Typical APR 6.70%)

The success of your business or farm is as important to us as it is to you. Local business and farms provides local incomes which are good for everyone in the community.

From small start-ups to expanding operations, we’ll help to support you every step of the way.

With your Credit Union, you’ll have a trusted partner who’s always looking out for your best interests.

  • To avail of a Business or Agri Loan, the purpose of the loan must be non-personal, and must be for a business, trade, profession or farming purpose.
  • To apply for a Business or Agri Loan, you must call in to one of our offices. It is not possible to apply using our online system.
  • Click on the headings below for more information.
Business Unsecured Loan: 6.50% Variable Interest Rate (6.70% APR)

Maximum loan amount is €80,000 depending on the loan purpose. Loan terms based on the main loan purposes are:

Vehicle Purpose: 5 Years, or asset remaining life, whichever is the lesser.
Machinery: 7 Years, or asset remaining life, whichever is the lesser.
Annual Expense or Overhead: 12 Months.
Working Capital: 3 Years.
Premises Expenditure: 10 Years, or less dependent on scope of work.
Property Purchase: 10 Years maximum.
Production Investment: 3 Years.
Re-Finance of Existing Debt**: Lesser of 5 years or term of the debt being refinanced.
Other: 5 Years, or less depending on the loan purpose.

**Debt refinance facilities are available for performing loans with another institution, rather than non-performing loans.

Agri Unsecured Loan: 6.50% Variable Interest Rate (6.70% APR).

Maximum loan amount is €80,000 depending on the loan purpose. Loan terms based on the main loan purposes are:

Vehicle Purpose: 5 Years, or asset remaining life, whichever is the lesser.
Machinery: 7 Years, or asset remaining life, whichever is the lesser.
Annual Expense or Overhead: 12 Months.
Working Capital: 3 Years.
Premises Expenditure: 10 Years, or less dependent on scope of work.
Property Purchase: 10 Years maximum.
Production Investment: 3 Years.
Re-Finance of Existing Debt**: Lesser of 5 years or term of the debt being refinanced.
Other: 5 Years, or less depending on the loan purpose.

**Debt refinance facilities are available for performing loans with another institution, rather than non-performing loans.

COVID-19 CREDIT GUARANTEE SCHEME (COVID-19 CGS)

First Choice Credit Union is an approved lender under the Government’s COVID-19 Credit Guarantee Scheme (CCGS). To see if you qualify, click below:

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Loans are subject to approval. Terms & Conditions apply. 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.