Recent deal: Civil engineering firm gets a working capital boost

BusinessLoans.ie is celebrating another happy client. A civil engineering firm identified a short term but immediate cash flow issue. Some of their county council clients, while reliable, were slow to pay. They needed €50,000 minimum but would prefer €100,000, if that was possible. They were able to get a fast finance quote with an easy-to-get documents request in 24 hours. They were approved for the desired upper limit of €100,000 and the director could then e-sign and the funds transfer was underway. The client was delighted with the smooth process and were able to get back to focusing on business.

Does your business want a fast finance quote? Call the BusinessLoans.ie team on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: €100,000 merchant cash advance for furniture retailer

BusinessLoans.ie is celebrating helping another client. It was for a long-established family business retailing furniture. Lately they had been getting some big orders to assist with Ukrainian refugee accommodation fit-outs. A stocking loan requirement of €100,000 was identified but getting a simple bank loan was proving too challenging due to slight losses on accounts from the previous year. We identified a finance quote opportunity from the significant turnover from all their online and in-store card machine sales. They were funded in days and were happy with a flexible repayment that fits with their cash flow cycle.

Does your business need finance? Call the BusinessLoans.ie team for fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: A beautician gets a €20,000 business loan for renovations

BusinessLoans.ie is celebrating another happy client. A beautician called and said they needed to renovate the interior of their business because it was looking dated. The problem was, their recent accounts were showing small losses and they had declines from the bank and other lenders. When the Business Loans team reviewed it, we identified they were making steady sales with their card machine. We engaged our merchant cash advance partner who were happy to quote. The client got fast funds and could attend to their business renovation project.

Does your business want a fast finance quote? Call the BusinessLoans.ie team on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: Energy firm insulates working capital with a €50k boost

BusinessLoans.ie helped a building & retrofit contractor get a €50,000 working capital loan. They required funding due to soaring materials costs and reduced supplier terms. They had engaged their own bank who had suggested paying the balance of an existing loan first before they could assess the new application however, their CFO didn’t feel confident that approval on a new loan would follow, potentially leaving them in worse off position.

BusinessLoans.ie engaged a non-bank lending partner. They were approved and funded in days, with low paperwork requirements. The business owner was happy to have a more comfortable cash flow position and better cash purchasing power for materials.

Does your business want a fast finance quote? Call the BusinessLoasn.ie team on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: Dublin scaffolding firm gets €300k equipment loan

BusinessLoans.ie is celebrating another successful loan. Our client was a large Dublin scaffolding business. They are very busy and experiencing good year-on-year growth. A purchase of €300,000 of scaffolding was required to service more contracts. Banks had been unhelpful. They also tried non-bank asset finance companies but scaffolding is considered unsuitable for hire purchase & leasing.

BusinessLoans.ie identified a non-bank lender who could quote them unsecured based on the strong performance of their accounts & bank statements. They were approved & funded quickly, at low rate on the €300,000 over a 3 year term. The business owner was pleased there was no early repayment penalty. If, during term, the company has excess cash reserves they can settle the loan and save on remaining interest.

Does your business want a fast finance quote? Call the Business Loans team on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: Construction company gets capital for machines & projects

BusinessLoans.ie is celebrating another happy client. An Irish construction firm secured over €110,000 to assist with machinery & working capital for a new housing project. Their business performed well in 2021 but a payment they were expecting was delayed. This impacted their cash flow and planning for their next big job. The owner had identified a used machine at a bargain price. While it was in great condition, it was too old for many asset finance lenders to quote. Our unsecured lender was unconcerned with the age of the asset. The business’s accounts & bank statement performance were strong enough to make the lending decision without taking a charge on the machine. The business owner was able to draw down their funds in days and got a machine that will be of great benefit to their ground works for their new project. On top of this they have some additional working capital left over to assist until the first stage payment comes in, easing cash flow pressure.

Does your business need a loan? Email us at hello@businessloans.ie or call 01 55 636 55 for fast finance quotes.

Six tips for getting business loans from banks in 2022

Speaking with your bank about business loans can be tough as we continue with pandemic issues in 2022. It’s best to get all your ducks in a row beforehand. In the words Abraham Lincoln; “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Here are some quick tips that may help:

1. Get expert advice. Your accountant or an experienced financial adviser will be useful here. If budget is a concern there are supports from your Local Enterprise Office, Enterprise Ireland & more.

2. Assess where your business is currently. Weigh up the strengths, weaknesses, opportunities and threats. Many businesses are pivoting completely or you may just need to focus on a particular area that’s working right now.

3. Be frank with your bank. When you speak with a bank in black & white terms, more focused on the facts & figures you should find them most receptive.

4 . Fail to plan; plan to fail. Write it down in a budget with a clear, concise plan of action detailing realistic forecasts & projections. If there are many variables in your forecasting consider presenting a best-case & worst-case scenario.

5. Hard talk. Be ready for your conversation with the bank & for difficult questions. Have your answers prepared.

6. Consider alternative options. If you have tried your best with the bank but they’re not on board there are alternative business finance options that may work.

The BusinessLoans.ie view is to engage with your accountant, advisers or government agencies & prepare. If the bank declines you don’t give up. Ireland has many alternative business finance options. We can assist with fast finance quotes & we’re here for you 7 days. Email hello@businessloans.ie or call 01 55 636 55.

Recent deal: An agri machinery manufacturer gets a €250,000 Covid loan

BusinessLoans.ie is celebrating another successful loan client. It was an agricultural machinery manufacturer whose work was hurt by the pandemic. Their turnover was down due to Covid restrictions as well as the worldwide supply chain issues pushing up prices. They were frustrated with the level of information required for loan applications with their bank and asked us about alternative finance quotes.

BusinessLoans.ie identified a loan quote under the Covid-19 Credit Guarantee Scheme with a non-bank lender. They were able to get approved for their €250,000 quickly, at a low rate and without a personal guarantee or early settlement penalty, over a three year term. They were happy and were able to get on with their work. Does your business want a fast finance quote? Get in touch today. Email hello@businessloans.ie or call 01 55 636 55.

Recent deal: A CCTV, access & alarms business secures working capital

BusinessLoans.ie helped our client get over €100,000 for working capital and business expansion funding. It was at a low-rate under the Covid-19 Credit Guarantee Scheme. The business was long-established and had a range of clients including domestic, commercial and government departments. During the pandemic their work was severely curtailed by restrictions. Their installers couldn’t finish jobs because of travel and access issues. This led to a dip in turnover for the year so they qualified for the covid loan. Now that pandemic restrictions had eased business was experiencing and overwhelming demand, not only from a backlog of orders but from companies realising the need for better access controls in their buildings. The business owner also noted an opportunity to buy another business and could have the capital at the ready.

BusinessLoans.ie got the funds organsied in days and the client was delighted not to have to sign personal guarantees for peace of mind. Does your business need a loan? Call us for fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: A tile retailer in need of stock

BusinessLoans.ie is celebrating helping another client. With the global issues in shipping, it’s put a strain on Irish businesses keeping enough stock in their warehouses. This was the same case for a tile retailer whose working capital was tied up in shipping containers in transit. They needed to make bigger orders and they didn’t have access to acceptable credit terms from their suppliers. While this business had some issues on their accounts as a result of the pandemic, they were enjoying better margins on their product with the general price increase in construction materials.

A finance quote opportunity was identified because they had a volume of retail card sales. Our lending partner secured over €40,000 in stocking finance for them with an option to top them up again in the coming months. They were happy. Does your business need a loan quote? Talk to us on 01 55 636 55 or email hello@businessloans.ie.