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3 Things You Can Do to Improve Your Chances of Loan Approval

If you’re looking for business loans in Ireland during Covid lockdown level 5 you may be overwhelmed with the number of supports, grants, government-loans and alternative finance options. It’s best to seek expert advice from your accountant or business advisor. If budget is a concern the Local Enterprise Office has great advice and mentoring too. BusinessLoans.ie is here to get you business loan quotes quickly & we never ask you for a fee. It’s best to take action before things get bad. Ensure you have enough working capital. Many loan options are flexible or don’t have an early repayment penalty. This means you can incur minimal expense by ending the loan early, once a time of business pressure has passed.

BusinessLoans.ie has three top tips for getting that loan:

1. Act before your bank statements get too tight.

2. Keep a steady minimum level of cash in the account. Don't be caught out by the number of days a in a month that a direct debit would fail. Having a bank overdraft facility in place is not a bad thing because it can show more affordability to make loan repayments.

3. Directors; don't pay yourselves excessively. It sends out the wrong signal to your lenders.

We are here for you 7 days and can get multiple loan quotes for you to compare. Use the web chat box in the bottom right of this page or call us on 01 55 636 55 now.