Business loans forecasting for 2024

Forecasting your ability to secure cash flow loans and asset finance is crucial for effective financial planning for 2024. Here are some steps and considerations to help you with this process:

1. Assess Current Financial Health:

• Review your current financial statements, including income statements, balance sheets, and cash flow statements.

• Identify key financial ratios to understand your business's liquidity, profitability, and solvency.

2. Cash Flow Projections:

• Create detailed cash flow projections for the upcoming year. Estimate your monthly inflows and outflows.

• Consider different scenarios, such as best-case and worst-case, to account for uncertainties.

3. Loan Requirements:

• Clearly define the purpose of the loans and asset finance you are seeking. Whether it's for working capital, equipment purchase, or expansion, having a specific plan will strengthen your loan application.

• Understand the amount you need and the repayment terms you can comfortably manage.

4. Creditworthiness:

• Regularly monitor and maintain a good business credit score. Lenders often use this to evaluate your creditworthiness.

• Address any outstanding debts or issues that could negatively impact your credit score.

5. Relationships with Lenders:

• Strengthen your relationship with existing lenders. If you have a good history with them, they may be more willing to provide financing.

• Explore local banks and financial institutions, as they may have a better understanding of your business environment.

6. Asset Valuation:

• If seeking asset finance, provide accurate valuations for the assets you intend to finance. This adds credibility to your application.

7. Financial Documentation:

• Ensure your financial documentation is in order. Lenders will likely request financial statements, tax returns, and other relevant documents.

8. Government Support Programs:

• Explore any government support programs or grants available for small businesses in Ireland. These can provide additional financial assistance.

9. Professional Advice:

• Consult with a financial adviser or accountant to ensure your financial projections are realistic and well-supported.

10. Stay Informed:

• Keep an eye on economic and industry trends. Changes in the business environment can impact your ability to secure financing.

11. Contingency Planning:

• Have a contingency plan in case your initial financing options do not materialize as expected.

12. Continuous Monitoring:

• Regularly review and adjust your forecasts based on actual performance. This allows for timely adjustments and better decision-making.

By carefully considering these factors, you'll be better positioned to forecast your ability to secure cash flow loans and asset finance for your small business in Ireland. Remember that financial planning is an iterative process, and staying proactive and informed will contribute to your success. BusinessLoans.ie can reach out to lenders to see how much credit might be available. Call us today on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: Fire protection business gets a €50,000 cash flow loan

BusinessLoans.ie is celebrating helping another client. It was for a business in fire protection & construction services. The business had been trading for a few years, built up solid turnover and reinvested in growing the business. However, they had reliable but slow paying debtors such as county councils and much of their cash was tied up here. Net profit was tight and they had an arrangment with Revenue, so no tax clearance certificate. Their bank was unable help and they had wages and other bills to pay.

BusinessLoans.ie identifed a flexible repayment loan that could work due to their sizable turnover. They got €50,000 funded in days and were happy to have a flexible repayment that worked in tune with their cash flow cycle.

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.

Some recent business loan quotes for Irish businesses

Some BusinessLoans.ie quotes this week. €180,000 working capital loan for a pharmacy chain, merchant cash advance; €500,000 working capital loan for an unlimited company, term loan 3 years; Flexible invoice finance for startup environmental consultancy, ongoing arrangement.

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

Recent deal: An accountancy firm gets €150,000 for an office upgrade

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.

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.

Recent deal: A pub gets a €60,000 working capital boost

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.

Recent deal: A solar business gets a €35,000 merchant cash advance

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.

Social housing & property development finance in Ireland

BusinessLoans.ie has experienced social housing finance partners who can assist construction companies & property developers. It’s a bespoke service that can gives you help where it’s needed. That could be an analysis of the best options for what you should do with a site; or introductions to housing authorities. Most importantly, you can avail of the best property finance rates from a panel of private & institutional lenders. Our partner is a social housing specialist with a detailed understanding of the market. You can be assured of a smooth process from start to finish and can avoid any of the potential pitfalls that can arise in complex projects.

Site Acquisition, Feasibility & Strategy Report

Get expert guidance from the team who will ask the right questions and produce a comprehensive report. Have you a site or looking to purchase a site for development? If so, have you identified and addressed the possibilities to maximise the value of the site? Have you stress tested your model against current market trends? Have you fully modelled out the best scheme, phasing & what impact this has on cash flows? Have you considered how this impacts your ability to seek financing? Do you require financing options to assist with understanding how these can impact your business or project?

To help with these questions you can get the following:

• Pre-acquisition site strategy report

• Post-acquisition site maximisation report

• Assessment of suitability for social housing

• Debt advisory services for new debt facilities or improve current facilities

• Site disposal advice

• Property due diligence

• Master planning & design efficiency

• Development strategy advisory

• Feasibility study

• Financial modelling

• Detailed viability analysis & risk assessment

Full Commercial Assessment

The following information would be necessary to carry out a full commercial assessment:

• Title report - Confirmation of title (i.e. freehold / long leasehold) to include a copy of the title map

• Confirmation of site area; site boundary map

• Any feasibility study carried out (indicative plot ratio, site coverage, density, heights, gross floor area etc.)

• Draft plans of proposed development, drawings, layout, house types, schedule of accommodation

• Schedule of development costs, build cost estimates, order of magnitude of costings

• Copy of any building survey, planning, environmental or archaeology reports if available

• Confirmation of any site contamination or flooding, easements, rights of way, services – main sewers, electricity and water

• Confirmation of any development levies outstanding

• Confirmation of part V agreement (if agreed)

• Details of the professional teams, architect, QS, engineer etc.

Debt Advisory Services

You get full debt advisory services including:

• Sourcing and negotiating new debt facilities or improve current facilities

• Managing process from indicative stage to drawdown

• Management of financing relationships

• Sourcing additional debt/ equity capital to support growth initiatives

You can ensure peace of mind by dealing with social housing finance experts. When you are up against a state body, unexpected requirements can be costly. Our partners have their finger on the pulse of the Irish social housing market. They handle the process for you from start to finish. Not only do you get the best rates you get project management which is key for the profitability of your project.

Want more information? Talk to us on 01 55 636 55 or email hello@businessloans.ie