SME Loans at Carrickmacross Credit Union
WHY CHOOSE AN SME LOAN WITH US?

Fast & Easy

Applying for an SME Loan with us is fast and easy

Great Loan Rates

We offer great loan rates for our SME Loans

We're Flexible

Flexible repayments scheduled to suit your needs

No Lump Sum

No lump sum payment or minimum deposit required

No Fees

Banks charge you fees to use your account. We don’t.

Free Insurance

Free loan protection insurance. Peace of mind at no extra cost!

Lending to Small and Medium Enterprises (SME’s) at Carrickmacross Credit Union

  • The purpose of this notice is to inform our business members about our SME lending services. It is targeted at enterprises employing less than 50 persons and which has a) an annual turnover below €10million and or b) an annual balance sheet total which does not exceed €10 million.
  • In this context, an enterprise includes a farmer or a sole trader such as a carpenter who is borrowing for the purposes of their farm, trade or profession.  It also applies to other members who borrow for a related business purpose and who may be an employee on PAYE.  If a farmer or carpenter is borrowing a personal loan for (say) home improvements or a holiday this brochure does not apply.  It only applies to loans for the purpose of the business/farm.
  • Carrickmacross Credit Union is happy to lend to the SME/Agri sector.  We have specialist staff who have been trained in lending to this sector and all of the regulations which apply

Background to SME regulations

  • New SME Regulations came into effect on 1st July 2016 to the extent that they apply to regulated entities excluding credit unions.  They came into effect in relation to credit unions from 1st January 2017.
  • The objective of the regulations is to strengthen protections for SMEs, while also facilitating access to credit, by introducing specific requirements that regulated lenders must comply with. These requirements include:
  • Giving SME borrowers greater transparency around the application process.
  • Providing SME borrowers with reasons for declining credit, in writing, that are specific to their application.
  • Providing greater protections for guarantors.
  • Contacting SME borrowers who have been in arrears for 15 working days.
  • Warning SME borrowers if they are in danger of being classified as not co-operating.
  • Expanding the grounds for appeal and setting up an internal appeals panel.

For more information please call to the Credit Union for a copy of our SME Information Booklet, email info@carrickmacrosscu.ie or alternatively click on the link below to download a copy in PDF format.

For information on SME’s experiencing financial difficulties please click on the link 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.

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