Business Loans: Ukraine Credit Guarantee Scheme

BusinessLoans.ie is happy to have access to the Ukraine Credit Guarantee Scheme (UCGS). It gives businesses lower rate loans and without personal guarantees.

What is UCGS?

Our partner credit teams have Strategic Banking Corporation of Ireland (SBCI) funds under the UCGS. Businesses that have seen costs go up 10% due to war can qualify, for example, inflation on utilities and fuel.

Loan features:

  • Rates start at 5.65%.

  • Loans from €10,000 to €250,000.

  • Terms from 12 months to 60 months. 

  • No personal guarantee.

  • Instant funding on acceptance.

  • Unsecured business loans for working capital or investment. 

If the business qualifies under the scheme, it still needs to pass the underwriting process. Expect to need to have recent filed accounts in profit, a tax clearance certifiate and no recent missed payments in the bank statements.

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

Fast & furious turnaround on €70,000 car dealer stocking loan

BusinessLoans.ie is celebrating another quick turnaround loan quote; approval in less than 24 hours. Yesterday a car dealer called because their bank seemed to be giving them the run-around on their annual car stocking loan arrangement. The lack of correspondance and hearing of new additional credit checks had given him the nudge to try elsewhere.

BusinessLoans.ie found that, while they had a dip in turnover, it was because of the Pandemic and they recovered well in 2023, with their best sales yet. Our lending partner approved them for the same amount as the bank by the next morning and the client was happy with a stocking loan facility with flexible repayments that worked with their cash flow cycle.

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

Recent deal: Fire protection business gets a €50,000 cash flow loan

BusinessLoans.ie is celebrating helping another client. It was for a business in fire protection & construction services. The business had been trading for a few years, built up solid turnover and reinvested in growing the business. However, they had reliable but slow paying debtors such as county councils and much of their cash was tied up here. Net profit was tight and they had an arrangment with Revenue, so no tax clearance certificate. Their bank was unable help and they had wages and other bills to pay.

BusinessLoans.ie identifed a flexible repayment loan that could work due to their sizable turnover. They got €50,000 funded in days and were happy to have a flexible repayment that worked in tune with their cash flow cycle.

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: Tile superstore gets a €100,000 stocking loan

BusinessLoans.ie is celebrating another successful deal. It was to assist a tile superstore get extra stock. Business was booming but their last set of accounts ended up on a small loss due to the pandemic. Because of the loss they were having a difficult time accessing unsecured finance. We identified a merchant cash advance opportunity due to their large volume of sales by card. The lending partner was able to provide an initial €30,000 facility and then, some months later, another €100,000 facility. Our client was happy to have a flexible repayment that works with their cash flow cycle.

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

Working capital finance to reduce pressure from inflation

In these inflationary times, business owners in Ireland are battling rising input & labour costs. There’s limited scope to raise prices, so other reactive measures can be considered such as incentivising clients to pay upfront, amending receivables policies, negotiating supplier terms or proactively organising finance before the bank statements get too tight.

BusinessLoans.ie has a number of working capital finance quote options. The most popular solution is a simple unsecured loan with low repayments over a number of years. Our lending partners generally require less paperwork than the banks and don’t charge an early repayment penalty; so if the cash flow pressure eases during the loan term, it can be fixed up early to save on interest. Other options that can work are invoice finance & trade finance, merchant cash advance or various other types of secured lending.

Does your business need a loan? We’re here for you 7 days to organise fast finance quotes 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: A car valeting business gets a business expansion loan

BusinessLoans.ie is celebrating another successful deal. We helped a car wash & valeting business with a €35,000 unsecured loan. They had an opportunity to expand the business. A new location was available and they required equipment, new hires and a marketing budget. When they engaged BusinessLoans.ie they had been frustrated with the level of information required from their bank for a loan application. They felt they had a simple business and didn’t want to put together detailed business plans & financial modelling. They had a set of profitable accounts filed with the Companies Registration Office, a tax clearance certificate and healthy bank statements. This was enough information for our lending partner’s underwriting team to produce a fast finance quote. They were approved in days and were happy. Does your business need a loan? Call the Business Loans team on 01 55 636 55 or email hello@businessloans.ie today.

Rupert Hogan, MD BusinessLoans.ie talks finance on Dream:Reality podcast

Rupert Hogan, MD of BusinessLoans.ie had the pleasure of talking finance with Alison McMurtrie on Dream:Reality, the podcast providing practical tips for business owners & the challenges they face.

Alison runs Idunn Consulting and can help your business perform better.

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.