€1m Business Support Fund to Be Launched by Dundalk Credit Union

Dundalk Credit Union, in partnership with Louth County Enterprise Fund, today announced its new €1m Business Loan Fund – “The Nurture Fund”. This innovative programme will offer significant enterprise support and competitively priced loan finance to businesses across Co. Louth. The Nurture Fund will be open to applications from June 1st onwards. The Nurture Fund aims to support business enterprise and development specifically in the areas of Engineering, Manufacturing (including food and drink), Energy & Environment, Financial Services, Digital Technologies and Tourism.

The €1m Nurture Fund – which has a supported application and mentoring process attaching, will offer loan finance up to €25,000 for start-up businesses and up to €50,000 for established businesses.

Shane Coleman, Presenter Newstalk Breakfast, officially launched The Nurture Fund and said “small businesses are the life blood of our economy, creating many hundreds of thousands of jobs. And this fund is about the community – via Dundalk Credit union and the Louth County Enterprise Fund – investing in its own community, its region, supporting local jobs, business development and enterprise in the process. It’s a win, win”.

Dundalk Credit Union CEO Billy Doyle said “The Nurture Fund represents a really positive signal to businesses across Co Louth that we are open to and supportive of their business expansion and development plans. The North East is a vibrant and innovative business hub and our partnership with the Louth County Enterprise Fund works to reinforce their mission to stimulate and support local enterprise development in Co. Louth.”

Louth County Enterprise Fund Manager Ronan Dennedy said at the launch “The Board of Louth County Enterprise Fund is delighted to collaborate with Dundalk Credit Union on this project. We have been supporting enterprise in Louth with business loans for the past 30 years. This alliance with Dundalk Credit Union enhances and enlarges both our respective lending functions. The winners are SMEs in the County who are being offered additional business loan opportunities. We anticipate that this initiative will help companies to stabilise and grow, generating additional jobs in the process.”

More information and application forms are available at http://www.thefund.ie. Applications are invited from June 1st onwards. Applicants must provide relevant supporting documentation, and applications will be reviewed by the Louth County Enterprise Fund Assessment Committee.