BusinessLoans.ie is celebrating another successful finance deal. Our client was a studio specialising in live sports streaming, studio hire & localisation services. The business had been performing well, acquiring the latest studio equipment and completed a renovation. They now sported a world-class studio for their own use & to hire to corporates. They were awarded new contracts and needed €75,000 to service them. BusinessLoans.ie organised a fast finance quote at a great rate and they were happy. If your business needs a loan call us today on 01 55 636 55 or email hello@businessloans.ie.
Irish State Bank has billions available for Irish businesses
The Strategic Banking Corporation of Ireland (SBCI) has done more lending in 2020 than any other year since its foundation. It has allocated over €2 billion in loans through various partners during the Coronavirus Crisis. A lot of this has been on the Future Growth Loan Scheme, as well as smaller schemes for Brexit. However, much of the €2 billion allocated to help Irish SMEs under the Credit Guarantee Scheme is still available. Why is this? The SBCI says "we are aware of some public commentary asking why SMEs have not taken up more of the capacity available under this scheme…the answer to this is that the €2bn capacity is an important statement of intent, that the capacity is there if needed.”
The BusinessLoans.ie View
It’s better to be over-capitalised than under-capitalised. If you don’t have a cushion of working capital and you wait until missed payments start stacking up in the bank statements before applying for loans you can find yourself in a position where you are getting declines and may only have higher interest rate loan options available or none at all.
There are a number of great free supports & mentoring from the Local Enterprise Office to set out a plan and see if debt funding is part of the solution. Enterprise Ireland has a financial planning grant worth €5000 for bigger companies. Finally, nobody knows your finances better than your accountant & they can help you assess your situation.
If debt funding is the right option we’re here to organise business loan quotes fast. Many of the loan options don’t have an early repayment penalty. That means, when the pandemic eases and your business doesn’t need as much working capital, you can settle the loan early and save money on what the remaining interest would have been if you let the loan run for the full term.
We’re here to help. Call us today on 01 55 636 55 for fast Credit Guarantee Scheme loan quotes.
Trade Finance in Ireland
Are you a B2B business that sells internationally? Are you moving in to new markets due to Brexit? Has your cash flow taken a hit due to Covid19? Then trade finance might be the solution you’re looking for. You can get your purchase orders financed & get up to 150 days of credit while getting excellent foreign exchange rates from an agile fintech that’s backed by huge bank capital. So if your business is in import & export, eCommerce, services etc. this can help you trade while conserving your day-to-day working capital.
BENEFITS FOR YOUR BUSINESS
Large credit lines with 0% deposit
Expert risk management on FX
Over 120 currencies
Fast & secure transactions
KEY CRITERIA TO ACCESS FUNDING
Your business is trading a year
Your business is turning over more than €500k
Your business is generally profitable
Your business passes the credit check
Get in touch with the business loans team to organise your line of credit today. Call us on 01 55 636 55.
3 Fast Business Loans in Ireland for 2021
If you’re starting or running a business in Ireland right now we salute you. Irish business owners are being hammered by the Brexit mess & an awful pandemic. Yet, despite this, the majority of businesses have survived and some have even thrived. You will also see the news headlines about various supports. Some have went down like a lead balloon (the hospitality keep-your-receipt tax back one with a dismal take-up) whilst others faltered at first (SBCI money through the banks with a 5% drawdown of €2 billion made available) but now are starting to take off due to the SBCI enabling some of the more agile fintechs to get in on the act. So what does that mean for you weighing up options for where to get a quote? Well, generally you can expect a faster turnaround time (days not weeks), lower paperwork requirements & no conditions attached before you can access the funds.
Fast Loan Options
Simple Working Capital Loan. You can now get up to €250k in days at rates from 4.75% so long as you are turning over in excess of €100k, are profitable and pass a credit check based on a few simple documents (2 years accounts, 12 months bank statements and the tax clearance certificate.)
Invoice Finance & Trade Finance. The SBCI have allocated funds to a fintech who can release funding based on what you’re owed in your book of debtors. In some instances they can also finance your purchase orders. This keeps vital working capital within your business instead of being tied up while your goods are in transit and then whilst you’re waiting for your customers to pay you.
Asset Finance. A fintech has access to SBCI funds to help businesses get more assets. They have a track record of financing new, old & unusual assets from all over the world. If you have your eye on something to help your business grow you can benefit from a quick decision at a great rate.
BusinessLoans.ie is here for you 7 days to organise fast finance quotes. Talk to us on 01 55 636 55 now.
Business Loans For Growth in 2021
Happy New Year! Now that we’re in to 2021 your business may be planning to survive or even thrive. Key drivers for finance are the pandemic & lockdowns, Brexit readiness, pivoting & general business growth financing requirements. If your business needs financing we’re here to help organise business loan quotes. Depending on what industry you operate in there are government-backed supports & loans to suit most. If not, we have a host of alternative business finance options that can work. BusinessLoans.ie recommends:
Check the Department of Enterprise website for the latest business supports. You may need to revisit their continuity planning checklist to see if you can cover your bases as best you can.
If you need working capital we can get you a quick quote. It costs nothing to get the quote built and you may not even need to draw it down. We have other options that give you a line of credit for trading or releasing value early on invoices when you want to. There is a little bit of work to get you approved for some of these facilities but it can give you peace of mind once you know you can call on it when needed.
If your business would like our new treasury function, please ask. We have a virtual CFO partner who can assist activities such as finance planning, cash flow forecasts and if they identify times when you need more working capital they can queue up reminders to get your finance quotes organised in good time with BusinessLoans.ie.
If you are reviewing your book of debtors and are concerned about not getting paid we’re partnered with a collections company going since 1929, Atradius.
We really are here to help at this time. We never ask you for a fee and get your loan quotes organised quickly. Your accountant or the Local Enterprise Office will be on hand to give you advice too and we always recommend checking in for financial advice on the big decisions. Other than that we have many professionals in our network who we put you in touch with, if it’s not something we are best placed to assist with. Call us 7 days on 01 55 636 55.
Business Loans & Recurring Revenue in Ireland
Did you know that you can release cash flow from future recurring revenue? There is a new finance solution that enables Irish businesses to get working capital from upcoming revenue & on a revolving basis. You can release up to 70% in advance, month after month.
BENEFITS FOR YOUR BUSINESS
Create a recurring revenue stream
No personal guarantees
The cost is agreed in advance
CRITERIA TO ACCESS FUNDING
Your business is trading at least a year
You have a minimum annual turnover of €1m
You have an average monthly turnover of €100k
If recurring revenue finance is of interest we’re here to guide you through the process. You can be onboarded in 48 hours & have peace of mind to release working capital automatically every month. Talk to the business loans team today on 01 55 636 55 or web chat via the portal in the bottom right of this screen now. We’re here to help, 7 days.
Bad Debt Collection Help in Ireland
Lately we have been hearing from our clients that they are having issues with difficult debtors. It’s a sign of the times we’re in due to the economic difficulties ensuing from COVID-19. We decided to research the best B2B debt collection service in the Irish market and we are pleased to announce our partnership with Atradius Collections B.V.
Their process is online and extremely simple. Firstly you get a free quote; then upload your overdue invoices; finally you submit your case. Your case is then placed with an Atradius Collections local collector commences initially “amicable debt collection” and communicates with your debtor. You, as an Atradius Collections customer, are assigned an Account Manager to discuss your case updates and progress. What this means is early on in the process it doesn’t get too legalistic. Your debtor will receive emails, letters & calls; but don’t mistake this to think this part of the process has no teeth. Atradius is one of the world’s biggest credit insurance companies and even if you’re the “little guy” getting bullied by the “big debtor” refusing to pay, they handle David & Goliath situations with ease. By engaging with a collections agency that’s also a huge credit insurer means they could ultimately hurt your debtor’s ability to get access to finance in future by blacklisting credit insurance services. In addition, Atradius hold information on 200 million companies worldwide! Debtors will often see that it’s better to pay you.
It costs nothing to get set up on their system and you can call it in to action when needed. Just ask us and we will arrange it. Or if you would like to get a free quote click here.
BusinessLoans.ie for Fast Loans in Ireland
If you are a business owner in Ireland you may have had the experience of waiting longer than expected to hear news on your bank loan application. This form of purgatory is often called the “slow no”. You’re not hearing no; your hopes are still alive that you will get approval; perhaps the bank has requested a couple of extra pieces of information that you’ve quickly responded with, giving you a glimmer of hope. The “slow no” is a torturous experience that you wouldn’t wish on your worst enemy. This is especially true when you’re trying to plan for a project that needs finance in these tough trading times.
The good news is we often speak with business owners in this very pickle. If they want fast finance quotes there are a host of alternative lenders whose processes, using the latest Fintech systems, are often swifter than the banks. They have tailored solutions for various business challenges. The team at BusinessLoans.ie has a great relationship with the credit teams and know how to present the information to get your quote approved quickly & efficiently. So if you need a quick quote give us a call 7 days on 01 55 636 55 or web chat via the box on the bottom right of this page.
Peer to Peer Business Loans in Ireland
When you need a business loan fast, alternative finance generally moves quicker than your bank. The best Fintech innovation in recent years has been peer to peer lending (P2P). So what is it? Essentially it’s technology that connects individual lenders with borrowers who need funds. It bypasses the bank system and in doing so cuts down on red tape that can make your wait for approval longer.
There are 2 primary options for applying for a P2P loan in Ireland. BusinessLoans.ie makes it easy for you to apply and get quotes to compare the best P2P business loan deal for you. Generally you will need to supply 2 years accounts, 6 months bank statements and your tax clearance certificate. Then the credit teams will review and give a grade of A, B, C or D and you find out what rate applies. You can expect it to usually range from 6% to 12% and over 1 to 3 years. However, higher risk companies can be considered, for example if they only have 1 year of accounts history. In that instance the rate could be around 15%.
So you may be thinking, those rates don’t sound so great! This is especially true when you compare it to some of the rates the banks advertise. However, most business owners I speak with have already been to the bank and have chosen to keep looking for a variety of reasons. They may say:
My bank is taking too long and I’ve a project that needs finance now
My bank gave me approval subject to conditions; I can’t fulfill them quickly enough
My bank has requested a lot of information and my accountant is too busy; besides I don’t want to outlay all that cash on accountancy work when I’m not 100% sure I’ll even get approval once I’ve given them everything they’ve asked me for
My bank has declined me
With BusinessLoans.ie we aim to get you a few business loan quotes you can compare and our good working relationship with the P2P lenders gives you your approval information generally within 24 hours. On top of this we have other potential options if P2P isn’t suitable. We’re happy to answer any questions you have. Click on the web chat now or call 01 55 636 55
