Here at Waterford Credit Union, we provide a flexible and convenient source of credit for those looking to set-up or expand their business.
A business loan is defined as a loan whose purpose is specific to the member’s business and main income source, e.g. stock loan for retail outlet, renovation loan for hairdressing salon.
How to apply
To apply for a business loan, you need to undergo a full risk assessment and complete a business loan application form (in an interview with our Credit Supervisor). The information required to complete the form will be supplied to you in advance.
Where a business loan over €25,000 is sought, you will need to provide a comprehensive business plan and detailed financial projections (supported by evidence based assumptions), appropriate for the scale and complexity of the loan. This will enable us to ensure that we are satisfied that you have the capacity to generate sufficient income to repay the loan.