Recent deal: €2 million invoice finance to service a government contract

BusinessLoans.ie helped a sustainable building & retrofit contractor who won a lucrative Sustainable Energy Authority of Ireland (SEAI) contract. When we first spoke they had already tried their bank for a standard bank loan so they could have enough working capital for expenses while they waited to get paid. They said the SEAI can take a couple of months to pay and the impact on cash flow would be too severe on them.

It seemed that invoice finance could be a great solution but it wasn’t straightforward with the SEAI. Work had to be signed off and sometimes alterations were required. Traditional bank invoice finance couldn’t deal with this complication. BusinessLoans.ie used an alternative lender who found a workaround for this. On the rare occasion an alteration was required some information from the SEAI system would suffice. Our client was offered favourable terms and a €2 million limit facility that was more than enough to satisfy their need.

There are a number of invoice finance options on the market. There are one-off or ad hoc solutions enabling you to release working capital from invoices whenever you choose. Generally there is a portal where you upload the invoice. You get a quick decision if they accept it and get funds fast. Then there are ongoing solutions that give you peace of mind knowing you have a limit and a financier who will support you through thick and thin. BusinessLoans.ie can get you fast invoice finance quotes. Email us at hello@businessloans.ie or call 01 55 636 55.

Recent deal: Loan success with imperfect accounts

BusinessLoans.ie helped a long-established eCommerce business who required working capital to get past a rough patch. It left their accounts showing a loss and they were finding it difficult to get support from their bank. When we reviewed the information an angle was identified because they had healthy turnover on their merchant account and they were coming in to a busier time of year. A specialist merchant cash advance lender was able to quickly give indicative figures for their desired amount and within days the funds were in their account. The client was happy and they have comfort that the lender indicated they would be willing to support them again as cash flow improves in the coming months.

Does your business need working capital, funds to expand, renovations or for anything else? Call the BusinessLoans.ie team today on 01 55 636 55 or email at hello@businessloans.ie.

Beauty industry business loans in Ireland

If you’re a business owner in the beauty industry, to stay ahead you need the latest equipment to serve your clients. You need a premises that looks inviting and you need the best staff. But what if your working capital has been depleted by the pandemic and everything seems out of reach? Then read on for some financing options that could help!

Simple working capital loans

If your business has been around a couple of years and your accounts are in profit then a simple unsecured loan could work. We can get you quick feedback on the maximum loan approval looking likely. Or if your accounts are not looking as good or you haven’t been in business too long but you use a card machine then a finance facility based on the volume of sales you do on your merchant account could work. This will give you flexibile & affordable finance to grow your business.

Asset finance

Your business could need some new kit whether that’s the latest hair, beauty, skincare, Covid air filtration or whatever, we have partners who can organise leasing fast. This gives you low monthly payments over a number of years with the option to hand it back and get an upgrade at end of term. It’s also possible to get you a master lease agreement. This means you can be pre-approved for an annual limit for leasing spend. If something goes kaput you have peace of mind to know you can get it replaced quickly.

BusinessLoans.ie is here for you 7 days. Email us at hello@businessloans.ie or call 01 55 636 55

Getting well capitalised before pandemic supports end

As we leave the summer months behind many business owners will have more time to plan for their business initiatives ahead. We are also getting to the stage where the Government will be phasing out supports. If you forecast that this could hit your cash flow and may need some working capital finance there are still some good options out there such as the Covid-19 Credit Guarantee Scheme. This can give you working capital financing, invoice financing, hire purchase, leasing and more. All at low rates and without personal guarantees. It’s always a good idea to do a health check on your business before seeking additional financing. Your accountant will be invaluable here. If financing is the right choice, BusinessLoans.ie is here to organise fast finance quotes 7 days. Email hello@businessloans.ie or call 01 55 636 55.

Hire purchase & leasing options in Ireland

Have you been considering asset finance to get new vehicles, machines or equipment your business needs to perform at this time? While many of the banks & asset finance lenders have tightened their lending rules lately, while in times of economic uncertainty it can be a great time to pick up assets you need at the right price. The good news is that there are a number of finance options on the market with government-backed SBCI funds.

SIMPLE UNSECURED CREDIT GUARANTEE SCHEME LOANS

You may be assessing a purchase of older machinery, equipment or vehicles. Possibly land or an industrial unit you’re renting that might be of too low value to get a commercial mortgage. A low-rate, Credit Guarantee Scheme unsecured loan for capital expenditure is now available through our partner up to €250k. Generally you would expect your business to have been profitable the past 2 years & show affordability for repayments evident in the recent bank statement history. We can get you fast feedback on approval.

ALTERNATIVE LENDERS & ASSET FINANCE

There are a number of low-rate Credit Guarantee Scheme asset finance options from alternative lenders right now. Whether you prefer hire purchase or leasing, with a nominal buy-out option at end of term that can help with tax efficiency, our partners can assist. Assets can be new or used and hopefully from a reputable dealer within Ireland or the North. UK mainland is more challenging due to Brexit.

If your business can add turnover with the asset while showing affordability for repayments, the credit teams are sympathetic to your requirements. Finance can be quickly ramped-up if you perform well / as restrictions ease. Talk to us today on 01 55 636 55.

10 things to know about the Covid-19 Credit Guarantee Scheme

The Irish Government, through the Strategic Banking Corporation of Ireland (SBCI) has given lenders access to cheaper funds to pass on to Irish business borrowers. The State is taking on 80% of the risk and the lender only 20%.

1. Generally no personal guarantees need to be signed by company directors for peace of mind.

2. Unsecured loans can be from €10,000 to €250,000.

3. Secured loans can be up to €1 million.

4. Terms up to 5 and a half years are available.

5. It’s not just banks who have access to the scheme. Agile alternative lenders do too.

6. Businesses can get new or used vehicles, machines and equipment on asset finance.

7. Businesses can use existing assets as collateral for a working capital loan.

8. Key eligibility criteria is a hit of at least 15% in turnover or profit due to covid.

9. There was €2 billion allocated and it’s due to end when the funds run out or at the end of 2021, whichever comes first.

10. BusinessLoans.ie has access to pillar bank quotes and non-bank quotes so you have more choice and the best deals.

BusinessLoans.ie can get your quotes organised. It costs nothing to get your quote built and see if your business is approved and at what rate. Often we can get you multiple quotes to compare with your accountant or financial advisor. Or if you’re still planning your finance requirements the Local Enterprise Office can arrange a free mentor. For bigger companies Enterprise Ireland has a Covid 19 Business Financial Planning Grant worth €5,000. We’re here for you 7 days on 01 55 636 55.

Top 5 restaurant business loan quotes in Ireland 2021

Many business owners in the hospitality trade whether restaurant, gastropub, bistro, cafe or hotel are getting going again. The good news is, there are restart business loan solutions available now. We’re here to organise loan quotes from the best alternative finance companies in Ireland. Here are the top 5 restaurant loan quotes business owners are asking us about.

5. RESTAURANT RENOVATION

Your restaurant may need alterations, whether that’s for indoor or outdoor dining, kitchen alterations or the next door unit is now available and you can expand.

4. COVID SAFETY EQUIPMENT

To keep your customers and staff safe you may need air monitoring equipment, HVAC upgrades or HEPA 14 air filtration systems as recommened by the World Health Orginization.

3. HIRING NEW STAFF

If you have been closed for a while you may need to hire and train new staff to get going again.

2. NEW LOCATION

If your business has been one of the lucky ones thriving on takeaway trade you could be ready to expand.

1. WORKING CAPITAL

Your working capital could be low and you need cash in the bank for everyday business expenses.

BusinessLoans.ie is here for you 7 days to organise fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.

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