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.