Business loans for hotels, restaurants & bars

If you have a business that’s been closed or operating on a reduced capacity such as hotels, restaurants or bars you may need working capital or funds to make adjustments for Covid safety. BusinessLoans.ie can organise fast finance quotes from the best alternative finance companies operating in Ireland.

If your business has been completely shut down or trading on a reduced capacity there are some loan options tailored to help you restart. Lenders will review how you were trading pre-lockdown to help make decisions. Other lenders will look at your card machine data and offer a review once you have a boost in trade. Talk to us today. Email hello@businessloans.ie or call 01 55 636 55.

Recent deal: A funeral home with a working capital requirement

BusinessLoans.ie helped a funeral home get a finance facility. They had outlaid a lot on capital expenditure and the bank account was too low on working capital. A requirement of €100,000 over the next 24 months was identified. This would ensure they had steady cash flow and could safely build up their reserves again.

BusinessLoans.ie identfied an opportunity to get a loan under Covid-19 Credit Guarantee Scheme. This gave the business owner an excellent rate & comfort that he wouldn’t have to sign a personal guarantee. The financial controller had been considering a 12 month term but on hearing there was no early repayment penalty decided to go with a 24 month term and have the option to settle the balance of the loan during term to save on remaining interest if cash reserves are deemed sufficient upon review. They are confident in their forward planning now that they have secured financing.

If your business needs funds for working capital, expansion or capital expenditure talk to us. The Credit Guarantee Scheme is still available until the end of the year, or when the funds are gone. We’re here to help 7 days. Email us at hello@businessloans.ie or call 01 55 636 55.

Business loans for mergers & acquisitions in Ireland 2021

Now that we are exiting the worst of the pandemic many businesses are considering their options. Government supports have been propping up many, but behind the scenes there are zombie businesses. These are businesses very likely to fail without this support. Many businesses need to work on a health check & evaluation their operations right now. If your business is strong, has cash reserves and an ability to borrow you could engage in the growth strategy of distressed M&A. This can help businesses improve balance sheets, become more resilient & simply take advantage of good deals.

FINANCING M&A

For now, there continues to be low interest rates & government-backed loans on the market. However, this situation will not continue. Supports will dry up and interest rates will rise. BusinessLoans.ie can help you raise unsecured finance from the strength of your company performance; or if you have assets and need more we can organise refinancing to raise more. If you buy a new company we can see what loan quote options it has to ensure it has enough working capital.

THE BUSINESSLOANS.IE VIEW

There are opportunities out there and businesses can grow and save jobs. Preparation is key, especially if you’re buying a distressed business. Your accountant will be invaluable here; or there is free mentoring available from professionals connected with the Local Enterprise Office. You can get sound financial advice & a strategic plan. If you’re a bigger company Enterprise Ireland offers similar supports. If funding M&A is part of the mix we’re here to organise fast finance quotes on 01 55 636 55 or email us at hello@businessloans.ie

Business loan options for post-pandemic imperfect accounts

When business owners get in touch with us, it’s often because their accounts and bank statement history are imperfect. A typical bank loan simply doesn’t look like an option. While there are some Covid-19 loans, many of them are focused on businesses that only suffered a dip in net profit or turnover, yet remained profitable. The reality facing many businesses is that their latest accounts are showing pandemic related losses. If that sounds like you, here are some options worth considering.

Invoice finance

Invoice finance can work for businesses that have Covid losses. If businesses are owed money by quality business debtors & the finance company is satisfied they can get credit insurance on them, then this could be an option to release 80% or more of the value of what a business is owed now. Then they get a final settlement when the debtor pays, less the lender’s fees.

Royalty finance

If you have a steady stream of growing sales but your accounts are imperfect a royalty finance company may advance working capital in exchange for a guaranteed percentage of future sales until an agreed amount is paid back.

Merchant cash advance

Merchant cash advance is similar to royalty finance but the agreed percentage of sales is deducted daily from the merchant account such as business card machine totals, Stripe or PayPal.

Sale & leaseback

Sale & leaseback can work for businesses that have assets but can’t get approved for unsecured finance or they can achieve the amount they need. Many businesses prefer to buy machines and vehicles. in some cases they may use up too much of their rainy day fund and now find they have their working capital locked up in their assets. This option lets them access working capital while continuing to benefit from the use of the assets.

Bridging loans

Bridging loans are focused on property assets that a business or business owner has. If there is equity in business offices, units, investment properties and more then there can be an opportunity to get some short-term finance. Amounts from 150,000 are possible but due to set legal fees, the bigger the loans the more they make financial sense.

We’re here for you 7 days to organise fast finance quotes. It’s always a good idea to review quotes with your accountant and assess if they will be the right solution. We also have professionals in our network such as virtual CFOs who can offer your business a health check. Email us at hello@businessloans.ie or call 01 55 636 55.

Top 5 reasons why Irish business owners use alternative finance

Ireland is quickly becoming one of the top Fintech centres of the world. The prime example is Stripe who are building their workforce here. Non-bank lenders are fast. They are not stuck with old processes & legacy systems that can slow down lending decisions. They also use different data points and Artificial Intelligence in some cases to help automate a lot of their work. Business owners are sick of getting the runaround from banks & the painful “slow no”. SMEs are exiting the pandemic with depleted working capital and immediate requirements that can’t wait. The good news is that many alternative lenders can have you approved in 24 hours.

Here are the top 5 reasons for using alternative finance:

1. Bank taking too long.

2. Bank requesting too much information.

3. They have some missed payments.

4. They have a seasonal business and they need an understanding credit team.

5. They have a particular amount they require and they only got partially approved.

BusinessLoans.ie can help you get multiple business loan quotes to compare so all you have to do is choose the best deal. We’ve built our relationships with all the credit teams and can attend to their approval processes to get your quotes fast. Get in touch today. Email us at hello@businessloans.ie or call 01 55 636 55.

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.

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.

Recent Deal: A sweet treat bakery changing their business recipe

We recently spoke with a business owner whose business was affected by the pandemic. They make cakes, sweet treats & chocolates. Before the pandemic they mostly served businesses in the local area but their retail & office clients declined as people worked from home. They re-evaluated the business and stayed profitable by building their direct to consumer sales, especially through online channels. For their deliveries they needed a new van and bought it out of cash.

When they spoke with the BusinessLoans.ie team they were low on working capital and needed to buy many smaller items for their commercial kitchen. They had engaged their own bank but they were not supportive. We found them a simple unsecured loan quote for the €30,000 within days and they were able to get on with what they do best. If your business needs a loan get in touch. Email hello@businessloans.ie or call 01 55 636 55.

COVID-19 Business loans - No repayments for 6 months

You may have heard of a loan option backed by the Irish Government through Microfinance Ireland. It’s designed to support microbusinesses through the pandemic that may need working capital. You get 0% interest and no repayments for the first six months. If you start the loan application with the Local Enterprise Office, the rate will start ticking over at 4.5% on conclusion of the interest-free period. You can try for up to €25,000 and a term up to three years for working capital or five years for capital expenditure.

The application process can be a pain point for some business owners. BusinessLoans.ie has professional application partners who can organise this part of the process for a small rate. Talk to us today. Email hello@businessloans.ie or call 01 55 636 55.

Security Token Offering - A way to raise capital for your startup?

If you’re a founder looking to raise capital a Security Token Offering (STO) will be one you’ll be hearing more about in the coming years. Every day we’re hearing about crypto price fluctuations and overnight millionaires. What’s more under the radar is the blockchain movement or use of ‘smart ledgers’ to track and transfer ownership using tech. So today, instead of old share offerings a STO is a way of raising finance using tokens instead of shares that make it easier to transfer.

Founders for a number of years have been using Initial Coin Offerings (ICO) to raise capital. ICOs enabled promoters to avoid red tape & regulatory issues. On the other hand this freedom caused some bad actors to engage in fraud, losing investors money and trust. There has since been a rise in the use of tokens instead of ICOs. STOs are regulated under securities law because tokens are tied to a physical asset. Both ICOs and STOs are currently an option for exciting startups to generate capital to grow. Many consider them better than share offerings because the tech makes it easy to create more offerings, cutting out the middleman & at a low entry price making it attractive to investors All in, it makes it more likely to generate funds to grow.

Successful STOs have traits of being in tech-focused startups that have the ability to trade on the world stage. Another area that is successful is in real estate investment. It’s expanding all the time and if you feel it could be a fit for your startup the BusinessLoans.ie team are here to guide you through the process using our trusted partners. Get in touch now on hello@businessloans.ie or call 01 55 636 55