BusinessLoans.ie has thankfully seen a downward trend in interest rates in recent months and expects this to continue in 2025. There are now more non-bank lenders in the market offering faster quotes at competitive rates. In this post we will examine some quote options that could work for Irish businesses in 2025.
Unsecured loans
For businesses that require working capital, expansion funding, equipment and more there are fast turnarounds on simple unsecured loan quotes, generally within 24 hours up to €500,000. Terms up to five years achievable. Expect low paperwork requirements: accounts, bank statements and tax clearance certificate. For likely approval recent accounts should be in profit and no recent missed payments in bank statement history.
Flexible loans
Businesses with steady cash flow and sales of €20,000 a month minimum a flexible loan can work. This can work for businesses trading as little as 9 months. Get up to €200,000. Maximum loan is generally about the same as one month’s average sales. Term up to 12 months with a regular small repayment that can vary in line with business cash flow. This works because open banking is connected. Approval can be easier with tight profit businesses or tax phased payment plans in place.
Merchant cash advance
These loans are readily available for businesses taking payment by card or online merchant accounts, trading as little as three months. Get up to €500,000. This will depend on the volume of monthly sales the business is doing. The loan is repaid with a fixed pecentage deduction of the daily merchant account total. Terms up to 12 months.
Invoice finance
Businesses that are waiting for debtors to pay can release cash flow from invoices through invoice finance. There are one-off options and ongoing whole book of debtor solutions. Get up to 90% of the value of an invoice released, with a final settlement with the debtor pays. This can work for early stage businesses and established businesses alike.
Trade Finance
It’s possible to get purchase orders financed for businesses trading over one year. This can help with extending supplier terms too, up to 120 days. It won’t work for every business but is especially useful to businesses waiting for containers of product in transit.
Asset finance
Businesses trading over one year can get equipment, machinery and vehicles financed over terms up to seven years. Get manageable repayments that ease cash flow burdens. Choose from hire purchase or leasing depending on what suits your business and tax liabilities.
The BusinessLoans.ie team is available to get fast finance quote feedback ready to help you on your way to a successful 2025. Call us now on 01 55 636 55 or email hello@businessloans.ie.
