BusinessLoans.ie - Intern Wanted

BusinessLoans.ie needs a student intern.

• This role is for someone seeking experience & you will work closely with the MD and learn about alternative finance in Ireland.

• Remote, flexible hours & full training provided - but ideally you're a marketing student with an interest in fintechs & startups in Ireland.

• You will learn about marketing finance to SMEs & using marketing tools such as HubSpot CRM

• Use multiple social media platforms, LinkedIn, Twitter, Facebook, Instagram, Pinterest, Google Business and more.

• Apply with your CV and a note to hello@businessloans.ie

• Or call 7 days on 015563655 to speak with Rupert

What's Involved in a Startup Loan Application?

If you’re an entrepreneur with a new business then you may be looking in to startup loans. It can be an uncomfortable experience having your ideas, plans and financials scrutinized by a bank but this article gives you some tips and what’s required of you. We also have a contact in the bank who can organise startup loans up to €120,000 and we can introduce you and get your quote underway.

What the banker generally requires to get your quote

• Business Plan
  
  

• Level and confirmation of applicants own input / funding invested in the business to date
  
  

• Cash flow projections for short, medium & long term
  
  

• Bank statements on all accounts (personal & business) for 12 months
  
  

• Details on prior employment history
  
  

• Confirmation of any grants / assistance
  
  

• If available, contracts or details of work in the pipeline
  
  

We get a lot of startup loan enquiries however, based on our experience it’s only a very small number who progress to application stage. Mostly this is down to budding entrepreneurs thinking about loans before developing their idea & business plan. If this sounds like you, try the Start Your Own Business Programme with the Local Enterprise Office. Or if you really don’t feel confident in producing a business plan and financial modelling we have partners who can assist at reasonable rates. Applications that demonstrate a good level of experience in your industry, as well as having some funds, vehicles or assets committed to the project have the best chances of approval.

To get your loan quote started, talk to us today on 01 55 636 55 or email hello@businessloans.ie.

BusinessLoans.ie - Business Plans & Financial Modelling

Did you know that BusinessLoans.ie has partners who can assist with business plans & financial modelling that can be used for applying for complicated applications such as bank loans, Microfinance Ireland loans, Enterprise Ireland funds and more? You can see images below showing how comprehensive the business plans & financials are. This info went in to a successful €90k Bank of Ireland startup loan application for a recruitment company.

Interested in learning more?

Talk to us today and get a quote from our partner for business plans, financial modelling and more. Give your business the best chance of success in approvals from bank loans to Irish government & EU funding. We’re here for you 7 days on 01 55 636 55 or email hello@businessloans.ie.

BusinessLoans.ie - Recent Retail Client Spotlight

We wanted to share the finance journey we’re having with one of our clients, a rural agri-retailer. They began as a startup loan enquiry & our contact in Bank of Ireland was initially able to help them out to get going. Then after six months in business; and transacting a lot using a card machine they had access to another loan based on the volume of sales they were doing. In the next year they got a top-up facility on that. More recently they had filed their second year of accounts with the Companies Registration Office. This milestone with profitable history gave access to a simple unsecured loan at a better rate and they took €50k to develop the business further. We expect to help them with loan quotes again later in 2021.

No matter what stage you’re at, pre-trading, early-stage trading or in business many years, we are happy to assist you with fast finance quotes. The rule of thumb is that rates can be higher when you’re early stage but in time, as you develop the business risk decreases. Depending on your industry there are niche loan quote options that can work too. Talk to us today on 01 55 636 55 or email hello@businessloans.ie

Working Capital Loans for Wholesalers

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

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

Happy International Women's Day from BusinessLoans.ie

BusinessLoans.ie is celebrating International Women’s Day. The theme this year is #ChooseToChallenge. We choose to challenge the imbalance of lending & investment in female-founded companies. Looking back over the past year & the finance we have helped with, the majority of the loans were for businesses owned and run by men. We need to work harder on being more accessible and are setting a goal to overcome this.

We did help some great female-founded businesses though. Our favourite was a loan for a uniforms business during the pandemic. They were pivoting from their usual hotel uniforms business to helping our nurses and medical professionals battling Covid19 by importing & manufacturing gear to keep them safe.

Wherever you’re at with your entrepreneurship journey there’s help at hand. Check out these 5 essential supports for female entrepreneurs in Ireland. Throughout 2021 we would love to help more female founders in Ireland with business loans to grow their business. We are happy to set up a Zoom and discuss loans as well as help with any useful connections, finance or otherwise, in our network. Get in touch today.

Business Loans in Ireland for Office Renovations or Garden Offices

Have you been considering doing alternations to your business premises? This could be to get ready for the Great Return to the Office. Or maybe you don’t want to go back at all; and you prefer to get yourself a garden office. If you need finance to make this happen BusinessLoans.ie can help with loan quotes. The easiest of which is a simple unsecured 5 year term business loan up to €250k. Or if it’s more of a modular & easily movable unit perhaps asset finance could work. Talk to us today on 01 55 636 55

VIDEO: How Irish businesses can use credit insurance & collections

A conversation about help for Irish SMEs during the pandemic; with Sinead Wolfe of Atradius Credit Insurance, Michael Weir of Atradius Collections & Rupert Hogan of BusinessLoans.ie