Small & Medium Enterprises

Information to help you with your business' finance application


Welcome to the Volkswagen Financial Services Ireland Limited (VWFSIL), Small Medium Enterprise (SME) microsite (SME Page).  We thank you (Company or you) for your interest in our products.  Please note that the information contained on this SME Page is designed to assist you with your finance application and is in adherence with our obligations under the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-sized Enterprises) Regulations 2015 (SME Regs).  When providing credit facilities, regulated entities should act honestly, fairly and professionally and in the best interest of their customers. WFSIL’s priority is to keep its customers abreast of all information relevant to our products and to handle complaints speedily, efficiently and fairly.

SME Regulations

The SME Regulations apply to “micro, small and medium sized enterprises” as follows:

"micro and small enterprise"

means an enterprise which employs fewer than 50 persons and which has either or both of the following: (a) an annual turnover which does not exceed €10 million; and (b) an annual balance sheet total which does not exceed €10 million;

"micro, small and medium-sized enterprise"

means an enterprise which employs fewer than 250 persons and which has either or both of the following: (a) an annual turnover not exceeding €50 million; and (b) an annual balance sheet otal not exceeding €43 milion;

Information Around Your Credit Application with VWFSIL

A. Pre-contract

We endeavour to provide you with the following information in a clear and transparent manner before being entering any credit facility agreement with VWFSIL:

- A clear explanation of the type of credit facility agreement you are entering (Agreement);

- The total amount of credit owed under the Agreement;

- The duration of the Agreement;

- The fees, charges, and interest rates along with an explanation for the calculation of the interest (including any charges payable on late payments and the arrangements for its adjustments) payable under the Agreement; and

- The steps to facilitate drawdown of the credit under the Agreement. 


B. Post-sale

For the duration of the Agreement, we will update you with:

- A statement including interest charge applied annually; and

- Any change in fees and charges including details of the change.


Applications for Credit

We will consider each application for credit on an individual basis and on its merits.

We will inform you of the relevant timelines for processing each application in accordance with VWFSIL's policies and procedures.

To support your credit application process, we have detailed a checklist of requirements to assist (i) you with providing us with all information relevant to expediting the application process; and (ii) VWFSIL in providing you with the most efficient service during the application process, allowing us to make a decision within 24 hours.



Information required from the Company

-  Audited Accounts for the last financial year;

- Management accounts to date;

- Budgeted financial projections;

- Bank statements for the last 6 months;

- Statement of affairs for the main shareholders of the Company;

- Detail of the beneficial owner of the Company; and

- Background of the business, history / current contracts.


Information required when the Company is newly established, a business plan will be required for review containing:

- Business projections for the next 3 years; and

- The plan for the business i.e. details of the trade/expansion details, local competition, strategy, management team information, funding and working capital facilities requirements.


VWFSIL reserves the right to request additional information from you to support its decision making process once your application is reviewed. Please note that any refusal of credit will not affect your credit rating. You are entitled to meet with VWFSIL directly should you wish to do so using the following details Email: Telephone: +353 (0)1 211 8391.