Important Deadline Alert: Revenue Tax Warehousing 1 May

As we approach the pivotal date of May 1st, 2024, we must collectively address the impending need for phased payment plans of tax warehousing with Revenue. This milestone underscores the importance of strategic financial planning and proactive measures to safeguard your business's working capital.

BusinessLoans.ie, Your Financial Partner for Cash Flow

If paying back tax will have too much of an impact on your cash flow, having some extra working capital support will be helpful. BusinessLoans.ie can organise fast finance quotes to ease this buden. Rest assured that your cash flow needs will be met with efficiency and professionalism.

Why Partner with BusinessLoans.ie?

  • Expedited Financing Solutions: We understand the urgency of your financial requirements and ensures expedited loan processing, delivering funds precisely when you need them.

  • Expert Guidance: Navigate the phased payment plan with Revenue knowing you have extra cash flow support with financing from the best alternative lenders in Ireland.

  • Tailored Financial Strategies: Your business is unique, deserving of tailored financial solutions. The bespoke approach of BusinessLoans.ie addresses your specific cash flow challenges effectively.

As the deadline looms, strengthen your business's financial resilience and ease the stress. Contact the BusinessLoans.ie team today on 01 55 636 55 or email hello@businessloans.ie.

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.

Recent deal: Steel shed builder gets a €75,000 stocking loan boost

BusinessLoans.ie is celebrating another happy client. It was for an engineering firm that needed bulk steel at a good price to finish a flurry of recent orders. The business owner felt their bank would take too long and was looking for a quick turnaround. They got a 24 hour approval through a non-bank lender at a fair rate. They took a 12 month term and were happy to know they could exit the loan early if they wished to 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: 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: 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.

Top 5 reasons why Irish business owners use alternative finance

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.

Top 5 reasons to use alternative business finance

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

Bridging loan options for Irish businesses

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:

Simple unsecured loans

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.

Asset refinancing

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.

Property backed bridging loans

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.

One-off invoice finance

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.

Merchant cash advance

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.

Business loan options in Ireland for 2023

The new year brings us new opportunities… and challenges. Towards the end of 2022 business owners were telling us of their finance requirements. A key concern for many was having enough working capital. Inflation eroded margins and the energy crisis exacerbated this. Many businesses had to write down bad debts from previous years. Banks were tightening up lending rules while raising interest rates and some applicants were waiting months for decisions.

It’s not all bad news. While some banks left the market, other non-bank lenders are filling the void. These alternative business lenders are often specialist, whether that’s unsecured lending, asset financing, invoice financing or merchant cash advance financing. Business owners we help are often delighted by the quick turnaround times, smoothness of online applications & open banking instead of frustration of emails & attachments, as well as knowledgeable credit teams who understand business owner’s industries.

If your business has plans to expand in 2023 that require financing, or just needs a simple working capital loan to ease cash flow concerns, we’ve got business loan quote options that can help. Email the BusinessLoans.ie team today on hello@businessloans.ie or call 01 55 636 55. We’re here to help, 7 days.

Working capital finance to reduce pressure from inflation

In these inflationary times, business owners in Ireland are battling rising input & labour costs. There’s limited scope to raise prices, so other reactive measures can be considered such as incentivising clients to pay upfront, amending receivables policies, negotiating supplier terms or proactively organising finance before the bank statements get too tight.

BusinessLoans.ie has a number of working capital finance quote options. The most popular solution is a simple unsecured loan with low repayments over a number of years. Our lending partners generally require less paperwork than the banks and don’t charge an early repayment penalty; so if the cash flow pressure eases during the loan term, it can be fixed up early to save on interest. Other options that can work are invoice finance & trade finance, merchant cash advance or various other types of secured lending.

Does your business need a loan? We’re here for you 7 days to organise fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.