NI Small Business Loan Fund

• 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.

The Fund will help bridge a gap where other funding options have been exhausted.  It will sit alongside other funding sources such as own funds, banks or credit unions.

Loans to recipients will be in the range of £1k – £50k and may be high risk in nature, as traditional bank funding will not have been available or will have been fully exhausted.