Recent deal: €2 million invoice finance to service a government contract

BusinessLoans.ie helped a sustainable building & retrofit contractor who won a lucrative Sustainable Energy Authority of Ireland (SEAI) contract. When we first spoke they had already tried their bank for a standard bank loan so they could have enough working capital for expenses while they waited to get paid. They said the SEAI can take a couple of months to pay and the impact on cash flow would be too severe on them.

It seemed that invoice finance could be a great solution but it wasn’t straightforward with the SEAI. Work had to be signed off and sometimes alterations were required. Traditional bank invoice finance couldn’t deal with this complication. BusinessLoans.ie used an alternative lender who found a workaround for this. On the rare occasion an alteration was required some information from the SEAI system would suffice. Our client was offered favourable terms and a €2 million limit facility that was more than enough to satisfy their need.

There are a number of invoice finance options on the market. There are one-off or ad hoc solutions enabling you to release working capital from invoices whenever you choose. Generally there is a portal where you upload the invoice. You get a quick decision if they accept it and get funds fast. Then there are ongoing solutions that give you peace of mind knowing you have a limit and a financier who will support you through thick and thin. BusinessLoans.ie can get you fast invoice finance quotes. Email us at hello@businessloans.ie or call 01 55 636 55.

Recent deal: A funeral home with a working capital requirement

BusinessLoans.ie helped a funeral home get a finance facility. They had outlaid a lot on capital expenditure and the bank account was too low on working capital. A requirement of €100,000 over the next 24 months was identified. This would ensure they had steady cash flow and could safely build up their reserves again.

BusinessLoans.ie identfied an opportunity to get a loan under Covid-19 Credit Guarantee Scheme. This gave the business owner an excellent rate & comfort that he wouldn’t have to sign a personal guarantee. The financial controller had been considering a 12 month term but on hearing there was no early repayment penalty decided to go with a 24 month term and have the option to settle the balance of the loan during term to save on remaining interest if cash reserves are deemed sufficient upon review. They are confident in their forward planning now that they have secured financing.

If your business needs funds for working capital, expansion or capital expenditure talk to us. The Credit Guarantee Scheme is still available until the end of the year, or when the funds are gone. We’re here to help 7 days. Email us at hello@businessloans.ie or call 01 55 636 55.

Security Token Offering - A way to raise capital for your startup?

If you’re a founder looking to raise capital a Security Token Offering (STO) will be one you’ll be hearing more about in the coming years. Every day we’re hearing about crypto price fluctuations and overnight millionaires. What’s more under the radar is the blockchain movement or use of ‘smart ledgers’ to track and transfer ownership using tech. So today, instead of old share offerings a STO is a way of raising finance using tokens instead of shares that make it easier to transfer.

Founders for a number of years have been using Initial Coin Offerings (ICO) to raise capital. ICOs enabled promoters to avoid red tape & regulatory issues. On the other hand this freedom caused some bad actors to engage in fraud, losing investors money and trust. There has since been a rise in the use of tokens instead of ICOs. STOs are regulated under securities law because tokens are tied to a physical asset. Both ICOs and STOs are currently an option for exciting startups to generate capital to grow. Many consider them better than share offerings because the tech makes it easy to create more offerings, cutting out the middleman & at a low entry price making it attractive to investors All in, it makes it more likely to generate funds to grow.

Successful STOs have traits of being in tech-focused startups that have the ability to trade on the world stage. Another area that is successful is in real estate investment. It’s expanding all the time and if you feel it could be a fit for your startup the BusinessLoans.ie team are here to guide you through the process using our trusted partners. Get in touch now on hello@businessloans.ie or call 01 55 636 55