BusinessLoans.ie latest deal - Stocking finance

BusinessLoans.ie is happy to have helped our client for the fourth time. They needed a new stock of machinery to sell on. While they enjoy some supplier terms they improve their buying power with cash and bulk deals. Along with this they need flexibility in terms they offer to some of the clients they sell machinery on to.

They had tried their bank, however they had approval issues in the past because of tight margins and profit. BusinessLoans.ie has finance partners who can sometimes help in their situation, where there is high turnover and steady cash flow. They got a flexible repayment loan approved in 24 hours; and it worked for them. They were able to renew the facility again and grow their business in the past couple of years.

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

Business loans forecasting for 2024

Forecasting your ability to secure cash flow loans and asset finance is crucial for effective financial planning for 2024. Here are some steps and considerations to help you with this process:

1. Assess Current Financial Health:

• Review your current financial statements, including income statements, balance sheets, and cash flow statements.

• Identify key financial ratios to understand your business's liquidity, profitability, and solvency.

2. Cash Flow Projections:

• Create detailed cash flow projections for the upcoming year. Estimate your monthly inflows and outflows.

• Consider different scenarios, such as best-case and worst-case, to account for uncertainties.

3. Loan Requirements:

• Clearly define the purpose of the loans and asset finance you are seeking. Whether it's for working capital, equipment purchase, or expansion, having a specific plan will strengthen your loan application.

• Understand the amount you need and the repayment terms you can comfortably manage.

4. Creditworthiness:

• Regularly monitor and maintain a good business credit score. Lenders often use this to evaluate your creditworthiness.

• Address any outstanding debts or issues that could negatively impact your credit score.

5. Relationships with Lenders:

• Strengthen your relationship with existing lenders. If you have a good history with them, they may be more willing to provide financing.

• Explore local banks and financial institutions, as they may have a better understanding of your business environment.

6. Asset Valuation:

• If seeking asset finance, provide accurate valuations for the assets you intend to finance. This adds credibility to your application.

7. Financial Documentation:

• Ensure your financial documentation is in order. Lenders will likely request financial statements, tax returns, and other relevant documents.

8. Government Support Programs:

• Explore any government support programs or grants available for small businesses in Ireland. These can provide additional financial assistance.

9. Professional Advice:

• Consult with a financial adviser or accountant to ensure your financial projections are realistic and well-supported.

10. Stay Informed:

• Keep an eye on economic and industry trends. Changes in the business environment can impact your ability to secure financing.

11. Contingency Planning:

• Have a contingency plan in case your initial financing options do not materialize as expected.

12. Continuous Monitoring:

• Regularly review and adjust your forecasts based on actual performance. This allows for timely adjustments and better decision-making.

By carefully considering these factors, you'll be better positioned to forecast your ability to secure cash flow loans and asset finance for your small business in Ireland. Remember that financial planning is an iterative process, and staying proactive and informed will contribute to your success. BusinessLoans.ie can reach out to lenders to see how much credit might be available. Call us today on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: A pharmacy chain fits out it's latest location with a €200,000 loan

BusinessLoans.ie is celebrating helping our client get a €200,000 merchant cash advance facility to help their pharmacy chain fit out a new location. They will use the funds for fixtures, fittings and for general working capital to get their new location up & running. Our client was happy to be funded within days and continue with their expansion plans for 2023.

Does your business want a fast finance quote? Call the BusinessLoans.ie team today 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.