Community Loans

Community Loans

EDCU will consider loans for local community organisations within the common bond for the following purposes:

  • Unsecured lending for amounts up to €100,000 for a period of up to 10 years;
  • Secured Lending for amounts up to €200,000 for a period of up to 35 years. Loan to be secured by a first legal charge on property.

Please contact the main office at EDCU to enquire about the possibilities of providing loan funding for your community organisation.

 

Loan Calculator

Maximum Loan Amount :
Maximum Loan Term :


Term

Repayment Frequency
APR
8.18%
# Repayments
Total
APR
8.18%
# Repayments
Total
APR
8.18%
# Repayments
Total
APR
8.18%
# Repayments
Total

This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.

Business Plan

A business plan may be required for Community Loan applications and we will advise you should this be case. Your business plan should include the following at a minimum:

  • an executive summary;
  • a company description;
  • market analysis;
  • current sector/market position;
  • staffing and operations; and
  • financial projections including:
    • key assumptions;
    • profit and loss accounts;
    • balance sheets; and
    • cashflow projections for 3 years.

The Business Plan can be completed in a standard format by the borrower or his / her accountant. If the borrower wishes to avail of this standard template an email will be sent to the borrower / accountant for completion online and once completed it will be returned digitally to the credit union for consideration. Alternatively the borrower can develop their own business plan document containing the above sections. Please discuss with your Loans officer to confirm the appropriate delivery method.

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Why our Loans are different?

No hidden fees or transaction charges

Affordable loan rates and repayment terms that are tailored to your needs

Decreasing interest - you only pay interest on the outstanding balance

Free loan & savings insurance at no direct cost to you - subject to T&Cs.

No early repayment penalty

Interest rates are fair and reasonable and capped by law