Eligibility Criteria


Objectives of the Fund

The Irish Diaspora Loan Fund has two central objectives:

1. Ensure maximum protection of investor funds, by following a conservative, low-risk loan investment policy.
2. Issue loans to a portfolio of Irish hotels which will each increase employment levels throughout the lifetime of the fund.



Authorisation

The Irish Diaspora Loan Fund is authorised by the Central Bank of Ireland as a designated investment company. The IDLF is an approved loan origination fund, meaning that funds under investment are used to issue fixed term asset secured loans to Irish hotels which meet eligibility criteria. Please click here for authorisation confirmation.



Minimum Eligibility Criteria

For hotels to be considered for investment, they must:

- Clearly demonstrate the ability to create new employment during the 5 year period.
- Have sufficient assets within the hotel property to secure the loan.
- Have been profitable for the previous three years.
- Have an existing loan facility with a financial institution, which is being fully serviced.
- Have an experienced management team of good character.



Security of the Hotel Loan

The existing hotel loan facility is replaced with the IDLF loan facility, and the hotel enters a 5 year loan agreement. The IDLF takes security over the hotel property until completion of the loan. At the end of the term, the hotel will refinance with a traditional lending institution, and repay the IDLF loan. The IDLF contains a portfolio of hotel loans, thereby spreading and reducing risk.