BusinessLoans.ie Interview on Dublin City FM 'You & Your Business' Show

Rupert Hogan, Managing Director of BusinessLoans.ie was invited to discuss business financing in Ireland during the pandemic with Alec Drew, The Business Expert, on his ‘You & Your Business’ show on Dublin City FM. Each week he invites an expert from the world of business to share their knowledge, insights & tips to help with business challenges.

Rupert Hogan appeared on the show back in 2019 and this interview covers the best financing options available through the pandemic; from government-backed loans, invoice financing, trade finance, crowdfunding and more. Listen back.

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If you’re a business owner who has had to deal with the bank for loans you may have seen nice advertisements about loans for brave people, help from friendly bank managers who have excess time to go through your application and make sure it’s done right, while benefiting from quick turnaround times. In my experience this utopia doesn’t exist. Sure, fast turnaround times are possible but that’s the exception rather than the rule. We deal with many business owners who have been getting the “slow no” or the runaround in some shape, way or form and they decide to see what other options are out there.

Alternative lenders are generally not going to make you go to the expense of doing up business plans and medium and long-term projections. Now that many have access to the government’s Covid-19 Credit Guarantee Scheme in some cases rates are on par or lower than banks. Mostly though, like anything in life if you want speed & convenience the trade off is a higher rate. But paradoxically, if you pay 1% or so higher, the cost per month in interest is minimal for short-term loans; and when you factor in all the hassle, time & expense you could have gone through for the bank loan application, all-in alternative finance can be cheaper even when you pay a higher interest rate.

Talk to us today about organising your next loan quote on 01 55 636 55. We’re here for you 7 days.

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