Be Business Loan Ready for 2025: Essential Steps for Small Business Owners

As 2025 approaches, securing financing for your small business is more critical than ever. Whether you’re looking to expand operations, invest in new technology, or manage cash flow, being prepared for lenders can make all the difference. Here’s a comprehensive guide to ensure you're ready to impress the lenders and secure the funding you need:

1. OrganiSe Financial Statements

Lenders will want to see detailed financial statements, including balance sheets, income statements, and cash flow statements. Ensure these documents are accurate and up-to-date. This transparency shows lenders you have a clear understanding of your business’s financial health.

2. Create a Solid Business Plan

A well-crafted business plan demonstrates your vision and strategy for growth. Include detailed market analysis, business goals, and a clear plan for using the loan. A strong business plan reassures lenders about the potential success and stability of your business. This will be necessary for bank loans but many non-bank lenders can work without this.

3. Maintain a Consistent Cash Flow

Cash flow is crucial for loan repayment. Ensure your business has a steady cash flow by managing receivables and payables effectively. Lenders look favorably on businesses that can demonstrate consistent revenue streams. If you’re struggling with cash flow because of debtors taking too much time to pay then invoice finance can help.

4. Build a Strong Relationship with Your Bank

Establishing a good relationship with your bank can be beneficial. Regularly communicate with your bank’s representatives and keep them updated on your business’s progress. A strong rapport can provide valuable insights and improve your loan application’s chances.

5. Prepare Collateral

Some loans may require collateral. Identify assets that can be used as collateral and understand their value. Having collateral ready can make your loan application more attractive to lenders. Examples of collateral are business buildings, vehicles and machinery.

6. Seek Professional Advice

Consult with financial advisers or business loan brokers to get expert advice on preparing your loan application. They can provide insights into what lenders are looking for and help you optimise your application for approval.

7. Stay Informed About Lending Trends

Lending criteria and trends can change. Stay informed about the latest developments in the financial sector to anticipate and adapt to changes. This knowledge can help you position your business more favorably to potential lenders.

Conclusion

Being prepared is half the battle when it comes to securing business financing. By following these steps, you can enhance your business’s appeal to lenders and increase your chances of securing the funding needed to thrive in 2025. Start early, stay organized, and don’t hesitate to seek professional advice to navigate the complex landscape of business financing.

If you’re considering getting business loans for 2025 call the BusinessLoans.ie team on 01 55 636 55 or email hello@businessloans.ie to get fast finance feedback on what loans might work and initial feedback on potential amounts.

Recent client: Flexible loan for flooring business

BusinessLoans.ie recently helped a flooring business with a flexible repayment loan. They had big expansion plans and invested a lot of their working capital to get into the UK market. They already were making use of invoice finance and our partner credit team saw more room for credit based on their ongoing and upcoming sales. They were happy to get a €250,000 facility over 12 months, with a view to getting a second facility for the same amount during that term. The loan has a flexible repayment that works in tune with cash flow and stays on target to be repaid in the agreed time. This was especially useful to the client who sometimes had irregular cash flow, in between projects.

Could this loan work for you? If your business is trading at least 9 months and is averaging at least €20,000 sales a month then enquire now.

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

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.