BusinessLoans.ie is happy to have helped our client, an accountancy firm, with a renovation loan over 3 years. They had self-financed most of the work but hit a stumbling block with a bigger-than-expected bill for fire safety certification work. They needed a quick turnaround and we were able to get the €150,000 organised fast.
Does your business need a fast finance quote? Call the BusinessLoans.ie team on 01 55 636 55 or email hello@businessloans.ie.
As we leave the summer months behind many business owners will have more time to plan for their business initiatives ahead. We are also getting to the stage where the Government will be phasing out supports. If you forecast that this could hit your cash flow and may need some working capital finance there are still some good options out there such as the Covid-19 Credit Guarantee Scheme. This can give you working capital financing, invoice financing, hire purchase, leasing and more. All at low rates and without personal guarantees. It’s always a good idea to do a health check on your business before seeking additional financing. Your accountant will be invaluable here. If financing is the right choice, BusinessLoans.ie is here to organise fast finance quotes 7 days. Email hello@businessloans.ie or call 01 55 636 55.
If you have a business that’s been closed or operating on a reduced capacity such as hotels, restaurants or bars you may need working capital or funds to make adjustments for Covid safety. BusinessLoans.ie can organise fast finance quotes from the best alternative finance companies operating in Ireland.
If your business has been completely shut down or trading on a reduced capacity there are some loan options tailored to help you restart. Lenders will review how you were trading pre-lockdown to help make decisions. Other lenders will look at your card machine data and offer a review once you have a boost in trade. Talk to us today. Email hello@businessloans.ie or call 01 55 636 55.
We recently spoke with a business owner whose business was affected by the pandemic. They make cakes, sweet treats & chocolates. Before the pandemic they mostly served businesses in the local area but their retail & office clients declined as people worked from home. They re-evaluated the business and stayed profitable by building their direct to consumer sales, especially through online channels. For their deliveries they needed a new van and bought it out of cash.
When they spoke with the BusinessLoans.ie team they were low on working capital and needed to buy many smaller items for their commercial kitchen. They had engaged their own bank but they were not supportive. We found them a simple unsecured loan quote for the €30,000 within days and they were able to get on with what they do best. If your business needs a loan get in touch. Email hello@businessloans.ie or call 01 55 636 55.
This week BusinessLoans.ie assisted a long-established family business with a need to renovate some of their butcher shops to make them safer for their customers. They took in to account the Health Service Executive guidelines on ventilation and social distancing. This led them to realise they needed some alterations involving construction, as well as new equipment for their three locations. In total, they needed €60,000. Unfortunately their bank seemed to be giving them the “slow no”. They spoke with us and got a fast finance quote in 24 hours and had the funds in their account in days.
Does your business need finance? We’re here for you 7 days to organise your quote. Enjoy low rates & no personal guarantees under the Covid-19 Credit Guarantee Scheme. Email us on hello@businessloans.ie or call 01 55 636 55.
Recently we helped a wholesaler who sells a commodity. They had plenty of space in their warehouse and an opportunity to buy at a great rate, hold the stock for a few months then sell at a premium, locking in a tidy profit. They had been speaking with their bank for a long time and didn’t seem to be getting anywhere. They needed €150k with some urgency. A great deal had become available. We were able to get them the €150k approved and in their bank account in days.
Before they said yes to the loan offer, they had some concerns. The interest rate from the alternative business lender was a little higher. When their CFO did the calculations, the difference in price per month in the shorter term was insignificant. Especially with the sizable profit margin they would realise from the opportunity they had in front of them.
In this case we organised a simple stocking loan. Other times we can help you trade more smoothly by conserving your working capital with trade finance. This enables you, for example, to use someone else’s money (the trade financier) to provide funding for your goods from your shipping container coming from overseas. This stops your working capital being tied up for weeks while it’s in ports and on the high seas. Then when you have got your stock and it’s with your customers, you may be waiting a while to be paid, depending on the terms you provide to your debtors. Using invoice finance you can release up to 90% of the value of the invoice right away and then get a final settlement when paid.
Trade finance together with invoice finance lets you keep your working capital for day-today expenses as they arise. If you’re considering business loans call us 7 days on 01 55 636 55. We’re here to help & get you fast finance quotes.
As of Monday April 12th it’s okay for bars & restaurants to serve takeaway alcohol to customers. While takeaway pints were never against the law most businesses complied with the government request. As Micheál Martin poetically said “forget about takeaway pints”. However, now that people can travel freely within their county, or 20km from home if crossing county borders restaurateurs & publicans will see increased trade. Under licensing laws, there is a requirement for the sale of takeaway alcohol that it must be consumed a minimum of 100 metres from the premises where the drink was originally purchased.
To combat the effects of Ireland’s mixed weather on your business, you could benefit from a grant up to €4000. It is for shelter & outdoor dining infrastructure and you can be prepared for full reopening & ending of the 100 metre rule. You can get this government grant only if you have a business that serves food. The scheme gives you 75% ex VAT of the cost of equipment purchased / installed, up to €4,000 per applicant. Only items purchased after June 1st, 2020 & up to September 30th, 2021 are eligible. Local Authorities administer it so you would need to reach out to them to claim this, or get more information from your Local Enterprise Office.
BusinessLoans.ie will be able to assist businesses with loan quotes as your trade improves. We are monitoring the situation with alternative lenders and their appetite for lending. The rule of thumb has been if the business is not currently trading they’re reluctant to quote. The first finance option likely to be available is based on your card machine. The partner credit teams will see how you were trading before the pandemic and look at the trade you’re doing when you reopen and hopefully make an offer. Then all going well, will top up the finance facility as turnover increases as lockdowns further ease.
There are other loans that will become more available as trade increases, from simple unsecured loans to asset finance for perhaps a food truck. We’re hearing Local Authorities are more open to offering places to pitch and this could be an important revenue stream to pivoting hospitality businesses this summer.
Talk to us about your situation. We’re here for you to organise loan quotes on hello@businessloans.ie or call 01 55 636 55.
BusinessLoans.ie recently assisted a wholesale business who needed working capital for their business to take advantage of seasonally low rates. They had plenty of warehouse space that they were not taking using due to lack of funds. If they could buy and hold they could sell at the right price later in the year. Their bank was unable to lend them the amount they needed so they engaged with us. We work with the best alternative finance companies in Ireland and got them a simple unsecured loan quote in 24 hours. They got low rates and boosted their margins. Later in the year they intend to get a top-up loan for their next trade.
If your business needs finance talk to us on 01 55 636 55 or email hello@businessloans.ie
Did you know that you can release cash trapped in invoices & speed up your working capital cycle? There is now a one-off invoice finance solution serving Irish businesses. You can pick and choose which invoices to fund 80% payment in 24 hours. This flexible invoice finance solution could help you manage your cash flow through 2021.
No personal guarantees or additional security – funding decision based on the debtor
No long-term contracts & no onerous paperwork
Multiple currencies supported
Fast decisions, fast funding & simple process
Affordable & flexible finance
Bad debt protection
Your business is trading with limited companies
You have insurable debtors
Your invoices are between €15,000 and €2,000,000
Your business is trading 2 years
Your turnover is above €500,000
If one-off invoice finance is of interest we’re here to guide you through the process of uploading invoices & getting your debtors approved. You can then receive 80% now & a final settlement when your debtor pays. Talk to the business loans team today on 01 55 636 55. We’re here to help, 7 days.
