There is a nothing-to-lose pre-approval line of credit available to business owners in Ireland called a Master Lease Agreement (MLA). It’s basically like an overdraft for getting new business equipment and fast.
At BusinessLoans.ie we get calls from panicky restaurateurs on occasion when business-critical equipment has gone kaput at the worst possible time for them. They need it replaced quickly. We can always assist in getting a standard asset finance quote at a great rate in this instance. However, for their own peace-of-mind, if they had a MLA in place they would have known as soon as their equipment was in need of replacement, they are already pre-approved. Less stress. Sound good?
So what are the requirements for getting a MLA?
You need to have a business that is performing reasonably well and expect to spend at least €25k on new equipment over a year
Here are some of the business items that can potentially be leased:
Larger fixtures & fittings
The key benefits of the MLA are:
It costs nothing to get the MLA approved
It gives you comfort to know you can get a quote for an item you need and have it financed quickly without having to find a deposit
Leasing in general has tax deductible benefits
How do you go about getting your MLA approved?
That’s simple. We’ll help! Send us a message now or call us on 015563655