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Loan Calculator

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APR 11.00%

APR 11.00%

Repayment Summary*:

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Total

Interest

Fortnightly

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Interest

Monthly

Total

Interest

∗Terms & Conditions Apply. All figures given on this website are for your general information only, and give a rough guide to loan repayments. Any statements on this website do not purport to be authorative or legally binding. You are advised to check with our offices for up-to-date rates and offers.

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Loan Enquiry

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What We Require From You
1

Outgoings

  • 3-6 months bank statements of current and business accounts
2

Proof of Income

  • 2 payslips, if in receipt of same
  • Two years financial accounts (the most recent available)
  • Evidence of any non-business related income
  • Statement of direct payments for the previous year
  • Final milk statement for the previous year
  • Confirmation of TAMs II approval (if applicable)
  • The Most Recent Form 11
3

Other

  • Tax Clearance Certificate / letter from your accountant confirming tax affairs are up to date
  • For amounts greater than €25,000 a business plan must be provided, including projections for 3 years
  • Any other supporting documentation which may assist including evidence of loan purpose
  • A minimum of 5% of the amount you're borrowing must be in your shares at time of application
Lending criteria

Credit Checks

  • Credit Checks must be up to date before any credit will be approved.

Ability to Repay

  • It is our responsibility to all members to ensure that we only lend members’ money to other members when it has been established that there is an ability to repay the loan. A borrower must be able to afford the loan repayments, including interest, over the full duration of a loan.

Maximum Term

  • The maximum term available is 7 years.
How to apply

How To Apply

If you are an existing registered member, you can make a full application online. Alternatively, you can come into our offices or call us on 049 4331715 and we can discuss your needs and proceed with your loan application.

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Please note: 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.

If you would like more information on applying for a loan with Cavan Credit Union please contact us today.

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