Help and Support

Lending to Small & Medium Enterprises(SMEs) members

At Nenagh Credit Union, we are proud to support our community—including local businesses. 
Our policy ensures that members have access to credit for prudent and productive purposes, empowering them to strengthen and expand their businesses. 
At the same time, we are committed to responsible lending. It is our duty to act prudently throughout the loan process to protect the Credit Union’s assets while also ensuring that our members do not become over-indebted. 
Let’s grow together—contact us today to learn more about our business loan options

How do I apply for a loan?

As an initial step, you may wish to complete the online loan enquiry Form, contact the office to discuss your loan requirement or request a meeting to discuss any proposed application for credit. You can apply for the loan by making an appointment to call to the office or apply on line. However, If it is a joint account both account holders must attend at the time of application as both signatures are required.

To speed up the application process for a Business Loan please ensure that you have the following at the application stage:

1. Proof of income
   • Employed - 2 recent payslips
   • Self-employed - the most recent set of accounts
   • Unemployed in receipt of social welfare - 2 recent slips from the post office
   • Retired in receipt of pension - 2 recent slips from the post office
   • Recent form 11
   • Confirmation of your tax position
   • Chapter 4 Self-assessment statement
   • Last milk cheque statement for the previous year
   • Written confirmation from DAFM of approval of TAMS grant
   • Completed Agri Fact Find- see attached
2. Proof of ‘Other income’ if applicable
3. Bank statements (most likely for the past 6 months) Nenagh Credit Union do not require bank statements for loans up to €5,000 total credit union exposure, 3 months bank statements on lending up to €10,000 and 6 months bank statements for lending over €10,000. Nenagh Credit Union reserve the right to request further bank statements if required.
4. Most recent credit card statement
5. Documentary evidence of any other outstanding loan balances, e.g. mortgage, personal loans
6. Up to date proof of ID and Address
7. If the lending request is in excess of €25,000, a business plan and financial projections are required (supported by evidence based assumptions, profit and loss accounts, balance sheets and cash flow projections) ,appropriate for the scale and complexity of the loan. Ideally the Business Plan should include an executive summary, enterprise description and staffing and operations. In addition to these and depending on the scale and complexity of the loan we may request such matters as market analysis and current market position to be referred to in the business plan.

A link to the website for the Irish Government's supporting SMEs online guide www.supportingsmes.ie.

Agri Fact Find

Nenagh Credit Union Limited reserves the right to seek security in any circumstances that it deems fit and appropriate.

The credit union reserves the right to request any other relevant documentation/information that it deems appropriate.

NCU Information Booklet for Small and Medium Enterprises