Recent deal: A roller blade business gets a €50,000 working capital loan

BusinessLoans.ie is celebrating another successful deal. Our client needed working capital. During the pandemic their main supplier was busy with HSE contracts and changed their payment terms. They had also found some new lucrative contracts but needed to supply favourable credit terms to their client. All-in-all this resulted in a strain on cash flow. They had made more plans to expand the business. A €50,000 requirement was identified. When they spoke with us they had tried their bank but the documents requests were too much to attend to and the business owner was time-poor.

With BusinessLoans.ie our client provided a quote at a low rate quickly and they had the funds in their account in days. Does your business need a fast finance quote? Email us at hello@businessloans.ie or call 01 55 636 55.

Recent deal: A plant hire company buys older machinery with unsecured Covid loan

BusinessLoans.ie is celebrating another successful deal. Our client was a plant hire company who was used to getting machines with asset finance. They found it easier for approval because hire purchase enables the asset finance company to take away the machine if they fail to pay. However, asset finance companies are generally only interested in financing assets that are not too old. Our client wanted an older machine that was still in great condition and asked us for help.

Their business had been affected by the pandemic. Turnover was down after the series of lockdowns affecting the construction industry. We organised an unsecured loan quote, at a great rate and without a personal guarantee under the Covid-19 Credit Guarantee Scheme. They got their €80,000 for their machine in days and they were happy. Does your business need a loan? For fast finance quotes, email us at hello@businessloans.ie or call 01 55 636 55.

What's Involved in a Startup Loan Application?

If you’re an entrepreneur with a new business then you may be looking in to startup loans. It can be an uncomfortable experience having your ideas, plans and financials scrutinized by a bank but this article gives you some tips and what’s required of you. We also have a contact in the bank who can organise startup loans up to €120,000 and we can introduce you and get your quote underway.

What the banker generally requires to get your quote

• Business Plan
  
  

• Level and confirmation of applicants own input / funding invested in the business to date
  
  

• Cash flow projections for short, medium & long term
  
  

• Bank statements on all accounts (personal & business) for 12 months
  
  

• Details on prior employment history
  
  

• Confirmation of any grants / assistance
  
  

• If available, contracts or details of work in the pipeline
  
  

We get a lot of startup loan enquiries however, based on our experience it’s only a very small number who progress to application stage. Mostly this is down to budding entrepreneurs thinking about loans before developing their idea & business plan. If this sounds like you, try the Start Your Own Business Programme with the Local Enterprise Office. Or if you really don’t feel confident in producing a business plan and financial modelling we have partners who can assist at reasonable rates. Applications that demonstrate a good level of experience in your industry, as well as having some funds, vehicles or assets committed to the project have the best chances of approval.

To get your loan quote started, talk to us today on 01 55 636 55 or email hello@businessloans.ie.

Master Lease Agreement. A New Line of Credit For Businesses in Ireland

As a business owner navigating a pandemic, Brexit & the resulting economic uncertainty you may not be sure you need a traditional bank loan at this time. It’s good to have comfort in facilities like overdrafts that you generally just pay for as you use it. If this sounds like you, then a line of credit for business assets may be of interest. BusinessLoans.ie is happy to introduce you to the Master Lease Agreement through our preferred partner. It enables your business to get pre-approval for multiple asset purchases over the year, up to a certain amount.

BENEFITS FOR YOUR BUSINESS

• Get annual pre-approval for €25,000 and upwards

• Get low leasing rates for business assets

• No stress on multiple transactions from €1000

• Every deal you choose a term up to 4 years

KEY CRITERIA TO ACCESS FUNDING

• Your business is turning over in excess of €250,000

• Your business is generally profitable

• Your business passes the credit check

As Paul Getty said “If it appreciates, buy it. If it depreciates, lease it.” Your accountant could assess how you much you can save on tax using leasing. Whether you’re considering machinery or equipment such as Covid-19 air filtration tech, computer hardware, security systems and more; we’re here to get your Master Lease Agreement approved. Call the business loans team 7 days on 01 55 636 55.