Business loans for reopening pubs in Ireland

If you’re a pub owner reopening we raise a glass to you. After up to 500 days closed you can serve once more. If you need finance, BusinessLoans.ie has access to stocking loans & restart loans. If your bank is not on board, our lending partners understand that they may need to look at old trading history from when you were trading as normal pre-Covid times. Decisions can be made in days. Other lenders look at your merchant account from all the transactions you’re doing on the card machine and can give you an advance with a flexible repayment.

Whether you need working capital for stock, wages, renovations or Covid safety equipment, we’ve got you covered. Call us today for fast finance quotes on 01 55 636 55.

BusinessLoans.ie - Loan types approved for 2021

Now that we’re well in to the second half of 2021, we’re reflecting on the successful business loan approvals our clients have enjoyed so far.

1. Unsecured Loans. This accounted for a third of loan approvals. Many of these were under the Covid-19 Credit Guarantee Scheme where the Irish Government is taking on 80% of the risk so rates are lower and there are no personal guarantees.

2. Merchant Cash Advance. 19% of loan approvals were based on merchant accounts, such as your card machines or online accounts like Stripe. Essential businesses, for example, retail and takeaway restaurants made up the bulk of these approvals.

3. Asset Finance. In a tie for third place is asset finance. Lots of businesses were taking advantage of low rates under the Credit Guarantee Scheme to stock up on assets to trade stronger as the pandemic restrictions eased.

4. Invoice Finance. In 2021 many business owners found their debtors were taking longer to pay so they took advantage of invoice finance to help with their cash flow cycle.

5. Secured Loans. Some businesses were unable to get unsecured finance due to struggling bank account performance. If they had spent on assets they could release working capital while still being able to use their assets through sale & leaseback.

6. Property Development. There was a certain level of site acquisition finance and development finance activity we assisted with.

So that’s a quick recap of what’s kept us busy in 2021, so far. We expect an increase in activity in loans for the rest of the year, especially from busy industries of construction, hospitality & retail. If your business needs a loan get in touch. Email hello@businessloans.ie or call 01 55 636 55.

Recent Deal: Asset finance for machinery to dig in to the construction boom

BusinessLoans.ie is celebrating a recent client success. The business owner had been searching for a machine at the right price. In Ireland there was little value to be found. In the past he would have dealt with importing from the UK but Brexit rules had been proving costly. Then he found the right option from a dealer in the North, where Brexit rules are less hassle. He engaged his own bank first to explore finance but he wasn’t getting much support. BusinessLoans.ie work with a number of agile asset finance companies and were quickly able to get him a low-rate, 4 year term, hire purchase quote. He will now be able to keep up with demand from his construction clients and the machine will add revenue to grow the business.

If you need asset finance there a many options on the market right now, including with the Covid-19 Credit Guarantee Scheme, giving you up to €1 million at low rates over 5 years. If your business can use assets to trade stronger exiting the pandemic, ask us about quotes. Whether it’s new or used we can assist. Email us at hello@businessloans.ie or call 01 55 636 55.

Irish businesses increasingly using Fintechs for fast funding

Why are Irish businesses choosing alternative finance? Banks have never picked up their risk appetite to support Irish businesses since the last recession. Entrepreneurs quickly found themselves at the mercy of banks looking to call in loans. Banks downsized and lost a lot of their specialised lending teams. Fintechs were quietly hiring and building agile systems to knock out quotes in days, where before the banks were taking weeks or months due to outdated legacy systems and lack of will due to market dominance. Now that we’re coming out the other side of the pandemic, this trend is set to accelerate.

Today Irish businesses have access to government supported loans, but only for a limited time. When pandemic loans & supports are gone the good news is that the era of ultra-low interest rates looks set to continue. There is a lot of money sitting in negative interest rates with banks and investors are motivated to seek better returns by supporting businesses with debt or equity funding.

For microbusinesses getting everyday business finance, owners now find that dealing with non-bank lenders gives them that personal touch they used to get with the banks, in a quick turnaround and at fair rates. For SMEs looking to grow, aquire or merge in this fluid time for businesses exiting the worst of the pandemic, capital is available. Talk to the BusinessLoans.ie and use our network of trusted financiers to get you the best deal. Email us at hello@businessloans.ie or call 01 55 636 55.

Acquisition Loans in Ireland

As the economy endures the continued strain of pandemic restrictions, opportunities will arise to buy businesses. Acquisitions loans will help you achieve this. Such loans can be built for an agreed purpose and the loan offer can be for a limited period of time. More often than not multiple lenders will need to be engaged. BusinessLoans.ie can organise multiple quotes that are drawn down in stages throughout the process.

Unsecured Lending

We can see how much unsecured finance can be raised based off the strength of your company as well as when you gain control of a new company.

Secured Lending

We can see how much secured finance can be raised from vehicles, machines, equipment, stock, debtors & buildings. This applies to your company and a company you’re buying.

Corporate Divestment

Part of the mix could be the sale of non-core activities to enable you to streamline the business & reduce overall debt.

BusinessLoans.ie not only organises loans; it also has partners who can organise business plans, financial modelling and funding proposals to add simplicity to a complex process. This is done cost-effectively with competitive fees & often subsidized through grants from the Local Enterprise Office & Enterprise Ireland. Your funding proposal could contain information such as the business history, management, products & services, customers, opportunities, financials, valuations, due diligence and more. Get in touch on hello@businessloans.ie or 01 55 636 55 & fund your next acquisition.

EIIS Scheme For Startups in Ireland?

The Employment and Investment Incentive Scheme (EIIS) has been funnelling up to €100m a year in to Irish businesses and in significant amounts such as Evercam who recently got €2.5m.

What is EIIS?

EIIS gives up to 40% tax relief on amounts up to €500,000 to investors in qualifying SMEs. In short if you’re a cashed up investor with big tax bills it’s attractive to invest because you can offset it against income arising in year of qualifying investment, including rental income. Then you need commit to 4 years and can make more money exiting the investment. See more on how it work and the pros and cons. Companies seeking EIIS relief must get approval from Revenue. Businesses like Dingle Distillery have encountered friction in getting their approval. Why? Some businesses are deemed ineligible; for example, businesses in professional services, finance, property development, forestry and more.

EIIS & Irish Startups

Due to the pandemic investment in startups has been lower. This is especially true for innovation driven enterprises that need significant amounts of cash before they become revenue generating. The Irish VC community has been lobbying the Irish government to expand the scheme to help startups. The SME taskforce published a growth plan for startups & scale-ups and this is being taken on board.

The Department of Finance is engaged in a public consultation process that’s moving forward from Budget 2021. There is an upcoming seminar with stakeholders and hopefully soon after we will be writing again about how startups can access EIIS. Or if you’re an SME wanting to find out if EIIS could benefit you now, we have partners who can assist. Call us today on 01 55 636 55 or email hello@businessloans.ie and we can put you in touch with our trusted EIIS partners for expert advice.

Security Token Offering - A Way to Finance Irish Business?

How much do you know about blockchain? We can barely go a day without hearing about fluctuations in Bitcoin’s price so if you know a bit about that, you get the idea that digital assets are out there in various forms. What’s evolved is that there is more acceptance of blockchain as an efficient & reliable way to keep tabs on ownership, transfers and more.

Security Token Offering

These days, in the EU you can choose to do a Security Token Offering (STO) instead of a traditional share offering. This journey has been largely led by the German regulator BaFin, who back in 2011 classified crypto assets as units of account & financial instruments. Then more recently additional regulatory work was done to define tokens. They must be transferable, have rights like a security & have the ability to be traded on the market.

Can Irish Businesses Benefit?

Irish businesses can use the passportable EU rules to access STOs until the Central Bank regulates them in Ireland. STOs can be used by startups & SMEs to raise capital, as well as for commodities, funds & real estate to have fractional, easily transferable ownership. If this still sounds like gobbledygook; to make it real & get a glimpse of the future, see this article about how $12 million of German real estate was tokenized.

If you are interested in an STO we have partners who can assist. Talk to us on 01 55 636 55 or email hello@businessloans.ie

Irish State Bank has billions available for Irish businesses

The Strategic Banking Corporation of Ireland (SBCI) has done more lending in 2020 than any other year since its foundation. It has allocated over €2 billion in loans through various partners during the Coronavirus Crisis. A lot of this has been on the Future Growth Loan Scheme, as well as smaller schemes for Brexit. However, much of the €2 billion allocated to help Irish SMEs under the Credit Guarantee Scheme is still available. Why is this? The SBCI says "we are aware of some public commentary asking why SMEs have not taken up more of the capacity available under this scheme…the answer to this is that the €2bn capacity is an important statement of intent, that the capacity is there if needed.”

The BusinessLoans.ie View

It’s better to be over-capitalised than under-capitalised. If you don’t have a cushion of working capital and you wait until missed payments start stacking up in the bank statements before applying for loans you can find yourself in a position where you are getting declines and may only have higher interest rate loan options available or none at all.

There are a number of great free supports & mentoring from the Local Enterprise Office to set out a plan and see if debt funding is part of the solution. Enterprise Ireland has a financial planning grant worth €5000 for bigger companies. Finally, nobody knows your finances better than your accountant & they can help you assess your situation.

If debt funding is the right option we’re here to organise business loan quotes fast. Many of the loan options don’t have an early repayment penalty. That means, when the pandemic eases and your business doesn’t need as much working capital, you can settle the loan early and save money on what the remaining interest would have been if you let the loan run for the full term.

We’re here to help. Call us today on 01 55 636 55 for fast Credit Guarantee Scheme loan quotes.

Reference: https://www.independent.ie/business/state-bank-has-biggest-year-for-lending-since-its-founding-in-2014-40177516.html

Master Lease Agreement. A New Line of Credit For Businesses in Ireland

As a business owner navigating a pandemic, Brexit & the resulting economic uncertainty you may not be sure you need a traditional bank loan at this time. It’s good to have comfort in facilities like overdrafts that you generally just pay for as you use it. If this sounds like you, then a line of credit for business assets may be of interest. BusinessLoans.ie is happy to introduce you to the Master Lease Agreement through our preferred partner. It enables your business to get pre-approval for multiple asset purchases over the year, up to a certain amount.

BENEFITS FOR YOUR BUSINESS

• Get annual pre-approval for €25,000 and upwards

• Get low leasing rates for business assets

• No stress on multiple transactions from €1000

• Every deal you choose a term up to 4 years

KEY CRITERIA TO ACCESS FUNDING

• Your business is turning over in excess of €250,000

• Your business is generally profitable

• Your business passes the credit check

As Paul Getty said “If it appreciates, buy it. If it depreciates, lease it.” Your accountant could assess how you much you can save on tax using leasing. Whether you’re considering machinery or equipment such as Covid-19 air filtration tech, computer hardware, security systems and more; we’re here to get your Master Lease Agreement approved. Call the business loans team 7 days on 01 55 636 55.

Emerging Entrepreneur in Ireland? Free Workshop to Future-proof your Business

BusinessLoans.ie and The Alternative Board are proud to launch a new series of 3 free practical interactive workshops which will work with Emerging Entrepreneurs to identify and implement the concrete steps they must take to prepare and plan for the future.

The application process

Step 1 

Register your interest by clicking on the 'Register Your Interest’ link below. Please then take a few minutes to fill out our short questionnaire, the answers to which will allow The Alternative Board to get an understanding of your business and to identify the most appropriate Facilitator/ Coach for your meeting. 

Step 2 

Participating companies will have a pre-meeting call with a TAB Certified Facilitator to determine the focus of the challenge or opportunity you will bring to the roundtable and that will benefit you most. This offer is only available to a limited number of companies and places will be allocated on a first-come, first-served basis. 

Step 3 

As these sessions are intimate, your fellow round table members will give and seek advice. You will be expected to give the sessions your full attention so that participants can fully leverage the collective wisdom of the room. Should you wish to continue roundtable membership facilitated by TAB it will be a separate arrangement between you and your TAB facilitator. 

FAQ: 

What types of firm is the service open to? 
The service is only available to businesses with 7 or less staff. Businesses in all sectors are invited to apply. 
 
Register by Tuesday 2nd February  @  9 am as places are limited 

 Register here: https://docs.google.com/forms/d/e/1FAIpQLSeQUCyqzd8XulCRahUzbaRASNR5WfPTEbfnptCIO4CeLAK_Yg/viewform