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.
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.
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.
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.
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.
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.
BusinessLoans.ie is celebrating another happy client. It was for a pub business in need of extra working capital. They were renovating accommodation to take in refugees; and generally needed cash flow help because of inflation pressures. They had previously tried a lender and were quoted a high interest rate and short term. We organised a quote within 24 hours. They got the amount they wanted, the 3 year term they wanted and a rate they were happy with. The business owner was especially pleased that there was no early repayment penalty and planned to fix up the balance of the loan in 18 months and save on interest.
Does your business want a fast finance quote? Call the BusinessLoans.ie team on 01 55 636 55 or email hello@businessloans.ie.
BusinessLoans.ie is celebrating another successful deal. It was for a solar business involved in sales and installations in the residential market. Recently they were busier because the energy crisis led to increased demand for green energy solutions. As a result of this, they needed financing to get the best deal on bulk buying stock as well as increased payroll obligations to meet with their new installations team member.
The BusinessLoans.ie team got their quote turned around in 24 hours with a merchant cash advance. The finance facility was based on the significant turnover they had via their online and card machine sales. They now have a flexible repayment that fits with their cash flow cycle and are happy. Does your business want a fast finance quote? Call us on 01 55 636 55 or email hello@businessloans.ie.
In Ireland the main banks provide most business loans whereas in the USA non-bank lenders do the most. It’s a trend that’s moving more in the direction of alternative finance every year. Banks have strengths in certain areas and are good at what they do. Non-banks fill the void for newer ways of doing business, for example, fintechs can build systems quicker using different data such as merchant account information. That could be from e-Commerce payments such as Stripe or brick-and-mortar shop’s card payments. Banks are somtimes slower to keep up with changes or just happy to focus on core business.
Bank taking too long. Our lending partners can offer same day approval and most of the time act quicker than banks. Many CFOs start working on bank applications months in advance of a forecasted need. However, business owners are often putting out fires and need to plug holes in cash flow as they arise; alternative finance can be more accommodating.
Bank requesting too much information. Our lending partners can often approve loans with two documents: accounts & bank statements. Business owners we help have often been frustrated by bank requests for reams of documents including draft accounts, business plans, cash flow forecasts, schedules of debt, aged creditors & debtors files and more. Key concerns are expense and availability of their accountant to produce the information in a timely manner.
They have some missed payments. Our lending partners can be more forgiving than banks when business owners have left finance applications too late with resultant bounced direct debits and referral charges showing in the bank statements. There are a wider variety of non-bank lenders with different risk thresholds who may quote.
They have a seasonal business. Most banks focus on term loans that have regular repayments over a fixed period but what if you have a seasonal business with limited cash flow at certain times of the year? For example, a hotel in the West with a busy summer and quiet winter, it can be challengng to get banks on board on term loan products. Alternative lenders can use merchant account based lending with a flexible repayment that is more in tune with this business’s cash flow cycle.
They neeed more than they were quoted. Banks may only see so much room for credit and this might not achieve the amount the business owner needs. In these cases there may be alternative lenders who can step in, whether that’s unsecured lending or specialist asset based lending.
Does your business have a plan to grow in 2023 that requires financing? Call the Business Loans team on 01 55 636 55 for fast finance quotes or email hello@businessloans.ie.
BusinessLoans.ie often has calls from business owners in need of short-term business loans. The reasons can vary but the key theme is a cash flow problem that’s being solved in the coming months wtih a job being finished, debtor paying or sale of stock. The immediate stress is making payroll or meeting other obligations as they fall due. Cash flow forecasting is important here because as soon as business bank statements start showing referral charges for missed direct debits and standing orders, loan quote options narrow quickly. Here are options to bridge a shortfall in cash flow:
If the accounts are in profit and the bank statements don’t have too many missed payments a simple unsecured loan can overcome a short-term cash flow issue. Credit teams can quickly indicate if adesired amount is possible, with a few simple documents. If a business doesn’t have an up to date tax clearance certificate, solutions can still be available but at higher rates.
Sometimes losses on accounts or bank statement performance make unsecured loans too challenging for approval. Businesses that have assets of value, that are relatively new, are owned outright or with little finance outstanding, might be able to get a working capital loan through refinancing. A list of assets can be assessed to see how much can be achieved.
Businesses might own land or buildings that can be used as collateral for bridging loans. Such loans can be used for a variety of reasons, from solving a cash flow issue to freeing up capital for a renovation of another property or purchase at an auction. Loan size is key here. Lenders might release up to around 70% of the value of the business’s property, but because of expensive fees for due diligence in organising the loans you might be lucky to find a lender with a starting loan size of €250,000. In such cases, if it was 70% Loan-To-Value, the value of the collateral property would need to be €325,000.
Invoice finance, through online applications and Open Banking, has become easier for one-off or on-demand services to help business owners whenever they need it rather than being tied into long-term contracts. If a business has reputable Irish limited company debtors this will be an easy process because lenders need to check online systems to see if they can get credit insurance on the debtor. Businesses can get a list of debtors checked to see what can be financed and to what limits.
If a business uses a card machine or merchant account then short-term loans from 3 months are possible based on the volume of sales. This can be an easy choice with a quick turnaround time. Businesses also enjoy a flexible repayment that works with their cash flow cycle.
If your business needs a short-term loan, medium-term loan or long-term loan we’ve got you covered. Call the BusinessLoans.ie team for fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.
