Top 5 Reasons Why Business Owners Use Alternative Finance

At BusinessLoans.ie, we help business owners across Ireland secure the funding they need—quickly and efficiently. While banks remain a traditional source of business finance, many entrepreneurs turn to alternative lenders for a variety of reasons. In our latest video, we explore the top five reasons why business owners choose alternative finance over traditional banks.

5. The Bank is Taking Too Long

Time is money, and in business, delays in securing finance can mean missed opportunities. Traditional banks have long application processes, multiple approval layers, and strict underwriting procedures. Alternative lenders, on the other hand, move much faster, often providing approvals within days rather than weeks or months.

4. The Bank is Requesting Too Much Information

Banks typically require extensive documentation, including financial statements, tax returns, business plans, and detailed forecasts. While this level of scrutiny makes sense for risk management, it can be overwhelming and time-consuming for business owners. Alternative lenders streamline the process with more flexible documentation requirements, making it easier to access funding.

3. The Business Has Some Missed Payments

Traditional banks have rigid lending criteria, and even a few missed payments can result in a declined application. Alternative lenders take a more holistic approach. Some are willing to accept a higher risk threshold, especially if there is a strong underlying business case. Secured financing options, where assets are used as collateral, can also help businesses access funding despite a less-than-perfect banking history.

2. The Business is Seasonal

Seasonal businesses face unique cash flow challenges. Many traditional loans require fixed monthly repayments, which can be difficult to maintain during off-peak months. A Merchant Cash Advance (MCA) offers a more flexible solution. With an MCA, repayments are based on a fixed percentage of daily sales, meaning businesses pay less when revenue is slow and catch up when business picks up.

1. They Need More Than the Bank Quoted

Banks are often conservative when it comes to loan amounts, basing decisions strictly on past financial performance rather than growth potential. Alternative lenders assess the bigger picture, looking at business projections and market trends. This flexibility allows businesses to secure the higher amounts they need to expand, invest, or cover unexpected costs.

Alternative Finance: A Smart Choice for Business Owners

At BusinessLoans.ie, we specialise in connecting Irish business owners with the right funding solutions. Whether you’re facing delays with the bank, need more flexibility, or require a higher loan amount, alternative finance could be the answer.

Call the BusinessLoans.ie team for fast finance quotes on 01 55 636 55 or APPLY HERE.

Bad Credit? Business Loan Options in Ireland

Running a business comes with its challenges, and managing cash flow is one of the biggest. If you’ve had a few missed payments and your bank statements show referral charges, you might worry about your financing options. The good news? Business loans are still possible—even if your credit history isn’t perfect.

Our lending partners assess your business by reviewing your accounts and bank statements, assigning a risk grade from A to D. Based on this, you’ll receive a loan offer with interest rates typically ranging from 6% to 12%. While more missed payments can increase your risk grade, we can provide approval information within 24 hours. Best of all, we never charge a fee for a quote, so there’s no cost to explore your options. If the offer doesn’t suit you, there are alternative solutions to consider.

4 Alternative Financing Options

1. Secured Finance

If your business owns valuable assets such as machinery, vehicles, or equipment, you may be able to secure a loan against them. This can help mitigate the impact of missed payments. For businesses that own land or property, secured finance is an option—but it’s generally only viable for loan amounts of €250k because of significant fixed due diligence costs in building such deals.

2. Invoice Finance

If you have outstanding invoices and are waiting on payments from customers, invoice finance could be a solution. Lenders offer both one-off funding and ongoing credit lines based on your receivables, allowing you to access cash flow when you need it.

3. Merchant Cash Advance

Does your business process payments via card machines, PayPal, Stripe, or similar platforms? A merchant cash advance could be a viable funding route. Instead of fixed repayments, a small percentage of your daily revenue is automatically deducted, making it a flexible option even if you have missed payments.

4. Asset Finance

Need to acquire new equipment, vehicles, or machinery? Asset finance can help you invest in essential business tools without the need for upfront capital. Lenders typically retain ownership of the asset until the loan is fully repaid, reducing their risk and increasing your chances of approval—even with a few credit blemishes.

Get a Fast Quote – No Upfront Fees

If you’re considering business finance, we’re here to help. Contact the BusinessLoans.ie team today for a fast, no-obligation quote: Call us on 01 55 636 55 or APPLY HERE.

As always, consult with your accountant or business adviser to ensure debt finance is the right fit for your situation.

Recent deal: Tyre business on track with quick loan approval

BusinessLoans.ie is celebrating another successful deal for our tyre sales business client. They got €100,000 for stock and working capital, approved in 24 hours. This loan will have a flexible repayment that works in tune with their cash flow and will be repaid over 12 months. It is a good vote of confidence that the solution is a good fit because it is their fourth facility. 

Does your business want a fast finance quote? Call the BusinessLoans.ie team on 01 55 636 55 or APPLY HERE.

Fast finance to get 2025 started? Get same day approval on €50,000 business loans

Many business owners in Ireland have used the Christmas break to work on their business rather than in their business. If that sounds like you, and you’ve got big growth plans for 2025, then a same day approval business loan might help keep the momentum. BusinessLoans.ie can help with same day approval on business loans up to €50,000; and that’s in addition to next day approval on amounts up to €500,000.

same day €50,000 business loan

• Rates generally from 6% to 10%

• Terms from 12 months to 60 months

• Purpose of funds can be for business expansion, working capital and more

To apply, your business should have at least one year’s accounts done and in profit; no missed payments in the bank statements and a tax clearance certificate. We can even help with some quick initial feedback to see if you’re potentially eligible, and if so you can get an indication of maximum approval amount. For fast finance quotes APPLY HERE or call the BusinessLoans.ie team on 01 55 636 55.

Recent deal: Seafood seller catches a €150,000 working capital loan

BusinessLoans.ie is celebrating another successful finance deal. It was for a seafood exporter expanding into new markets. The business has been enjoying year-on-year growth with significant sales into China; and now enjoying better margins in their new USA market. They were happy with €150,000 approved in 24 hours, at a fair rate.

Does your business want to hook a fast finance quote? Call us on 01 55 636 55 or email hello@businessloans.ie.

Business Loans: Ukraine Credit Guarantee Scheme

BusinessLoans.ie is happy to have access to the Ukraine Credit Guarantee Scheme (UCGS). It gives businesses lower rate loans and without personal guarantees.

What is UCGS?

Our partner credit teams have Strategic Banking Corporation of Ireland (SBCI) funds under the UCGS. Businesses that have seen costs go up 10% due to war can qualify, for example, inflation on utilities and fuel.

Loan features:

• Rates start at 5.65%.
  

• Loans from €10,000 to €250,000.
  

• Terms from 12 months to 60 months. 
  

• No personal guarantee.
  

• Instant funding on acceptance.
  

• Unsecured business loans for working capital or investment. 
  

If the business qualifies under the scheme, it still needs to pass the underwriting process. Expect to need to have recent filed accounts in profit, a tax clearance certifiate and no recent missed payments in the bank statements.

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

Fast loan quote? Flexible Repayment Loan

BusinessLoans.ie has a fast finance quote option for up to €250,000. Businesses that are trading from 9 months onwards and turnover of at least €20,000 a month can enjoy 24 hour approval. The repayment is flexible because it keeps in tune with cash flow over a term up to 12 months. Generally the partner credit team can top up the loan once it’s paid down at least halfway.

Many businesses in Ireland have tight profits or tax clearance certificate issues such as phased payment plans or tax warehousing with Revenue. Sometimes approval can be made in such circumstances and it costs nothing to check.

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

Recent deal: Tile superstore gets a €100,000 stocking loan

BusinessLoans.ie is celebrating another successful deal. It was to assist a tile superstore get extra stock. Business was booming but their last set of accounts ended up on a small loss due to the pandemic. Because of the loss they were having a difficult time accessing unsecured finance. We identified a merchant cash advance opportunity due to their large volume of sales by card. The lending partner was able to provide an initial €30,000 facility and then, some months later, another €100,000 facility. Our client was happy to have a flexible repayment that works with their cash flow cycle.

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

Recent deal: Civil engineering firm gets a working capital boost

BusinessLoans.ie is celebrating another happy client. A civil engineering firm identified a short term but immediate cash flow issue. Some of their county council clients, while reliable, were slow to pay. They needed €50,000 minimum but would prefer €100,000, if that was possible. They were able to get a fast finance quote with an easy-to-get documents request in 24 hours. They were approved for the desired upper limit of €100,000 and the director could then e-sign and the funds transfer was underway. The client was delighted with the smooth process and were able to get back to focusing on business.

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

Recent deal: A business gets €200,000 for an acquisition

BusinessLoans.ie is celebrating another successful deal. It was for a windows & doors business to finance the acquisition of a competitor business. The owners of a great business were retiring and an opportunity presented itself for our client to add to their turnover and profitability. They needed to come up with an initial payment of €200,000 quickly to secure the deal but they didn’t have the cash reserves. Our lending partner was able to quote within 24 hours of them producing their latest accounts, as well as answering some simple underwriter questions on the business they were acquiring. Our client was quoted a low-rate over a manageable 5 year term and secured the deal. They were also happy to hear that more finance was potentially available next year to help with another payment to the old owners.

Does your business need financing? Call the BusinessLoans.ie team on 01 55 636 55 for fast finance quotes; or email hello@businessloans.ie.