Construction finance for social & affordable housing in Ireland

BusinessLoans.ie is happy to announce a new social housing construction finance partnership. It has a quick turnaround and competitive rates. Property developers have a host of EU and Irish Government backed loan options available but many are finding the red tape too much. Our partner is keen to get funds out as quickly as possible and makes it easy. Here’s what you can expect:

• A base rate from 7%

• Deals below €3 million, 1.5% in and 1.5% out

• Deals above €3 million from 1% in and 1% out

• Deals from €1 million to €200 million

• Only pay interest when you draw down a tranche

• Recycle loan, keeping funding cost down

• A credit team that will value your site on what it’s worth today; not what you bought it for

• 75% Loan To Value

• 80% Loan To Cost

If you’re sitting on sites and want to develop in the social & affordable space talk to the Business Loans team today on 01 55 636 55. We’re here for you 7 days to get approval feedback.

Recent deal: A CCTV, access & alarms business secures working capital

BusinessLoans.ie helped our client get over €100,000 for working capital and business expansion funding. It was at a low-rate under the Covid-19 Credit Guarantee Scheme. The business was long-established and had a range of clients including domestic, commercial and government departments. During the pandemic their work was severely curtailed by restrictions. Their installers couldn’t finish jobs because of travel and access issues. This led to a dip in turnover for the year so they qualified for the covid loan. Now that pandemic restrictions had eased business was experiencing and overwhelming demand, not only from a backlog of orders but from companies realising the need for better access controls in their buildings. The business owner also noted an opportunity to buy another business and could have the capital at the ready.

BusinessLoans.ie got the funds organsied in days and the client was delighted not to have to sign personal guarantees for peace of mind. Does your business need a loan? Call us for fast finance quotes on 01 55 636 55 or email hello@businessloans.ie.

Recent deal: A tile retailer in need of stock

BusinessLoans.ie is celebrating helping another client. With the global issues in shipping, it’s put a strain on Irish businesses keeping enough stock in their warehouses. This was the same case for a tile retailer whose working capital was tied up in shipping containers in transit. They needed to make bigger orders and they didn’t have access to acceptable credit terms from their suppliers. While this business had some issues on their accounts as a result of the pandemic, they were enjoying better margins on their product with the general price increase in construction materials.

A finance quote opportunity was identified because they had a volume of retail card sales. Our lending partner secured over €40,000 in stocking finance for them with an option to top them up again in the coming months. They were happy. Does your business need a loan quote? Talk to us on 01 55 636 55 or email hello@businessloans.ie.

BusinessLoans.ie MD Rupert Hogan talks finance on iProperty Radio

Rupert Hogan, MD of BusinessLoans.ie spoke with Carol Tallon on iProperty Radio about all things construction finance and SMEs in Ireland. The show is on Dublin South FM from 6-7 pm every Tuesday and features all the news on the Irish property world. Here are the key points Rupert covered:

• Construction SMEs are finding support from non-bank lenders

• What’s hot right now is the Covid-19 Credit Guarantee Scheme

• For construction businesses affected so badly by restrictions, it’s available through many lenders and with many different types of finance

• If accounts are still showing profit, simple unsecured loans up to €250k are there

• If accounts are weaker consider secured lending, invoice finance & asset finance

• Bridging loans based on business-owned property start at €150k and go in to the multi-millions

• Development finance is readily available

• If construction companies are concerned about the viability of their business talk to their accountant or get free advice and support from the Local Enterprise Office

Recent deal: An expanding gym chain with an equipment & fit-out requirement

BusinessLoans.ie helped a business owner in the gym industry. They had been hit badly by pandemic restrictions but were now in a fortunate position of being located in the suburbs of Dublin. With the shift to work-from-home, business was booming. They needed €70,000 for equipment and a fit-out. They were initially speaking with their bank but the requests for business plans and detailed cash flow forecasts would have added time and expense. They had secured a construction company ready to get going and they didn’t want to lose them to another job due to delays.

When they engaged with BusinessLoans.ie a low-rate loan opportunity was identified under the Covid-19 Credit Guarantee Scheme. There would be no early repayment penalty within the 3 year term they were approved for; and best of all there was no personal guarantees for directors. The loan was approved and drawn down in days and they were happy.

Call the Business Loans team today on 01 55 636 55 for fast finance quotes. Or email us on hello@businessloans.ie.

BusinessLoans.ie celebrates National Women's Enterprise Day 2021

The Business Loans team have a lot to celebrate today. In the past year we have helped female entrepreneurs with loans to help their businesses grow. The most memorable loan was for a uniform supplier whose hospitality debtors left her on the hook for a lot of money during the pandemic but she pivoted to medical and protective equipment and needed finance to get stock in from China. Her business performed well due to her level-headed business decision to adapt to the situation. So today it’s hats off to all the great female entrepreneurs in Ireland. The Local Enterprise Office is a great resource for business owners in Ireland and you can see more of what the day is about here.

Recent deal: Van finance for a specialist motor factors

We help with everyday small business finance situations too. Our client got a low-rate hire purchase deal for a used van. It was under €10,000 plus VAT. He had a couple of tough years, like many business owners and budget was a concern. Our lending partner was able to offer repayments up to 5 years to have minimal impact on cash flow. He got pre-approval for up to €20,000 and then went out reviewing offerings from dealers in the South & the North. He found a bargain and wasted no time in getting the lender to pay out so he could pick up his new motor.

If you’re considering getting new assets there are some great deals for hire purchase & leasing at the moment. The Covid-19 Credit Guarantee Scheme is available until the 31st of December. The enables you to get new or used assets up to €1 million. There are no personal guarantees and you can get cash flow friendly 5 year terms. Talk to the Business Loans team today. Email hello@businessloans.ie or call 01 55 636 55.

Recent client: Vehicle testing centre and a Covid loan

BusinessLoans.ie is celebrating another happy client. He got a loan under the Covid-19 Credit Guarantee Scheme. This gave him a low-rate and he didn’t have to sign a personal guarantee. In our initial call he had a concern over previous credit history. From the last recession he was still getting letters in relation to Bank of Scotland (Ireland) for an alleged unpaid debt and this had been a big stress in engaging with lenders. We were able to reassure him that we have helped many business owners with legacy issues. Of key importance to lenders we work with is current operation of the bank statements. It’s usually things like recent referral charges for unpaid standing orders & direct debits that are a big concern.

We were able to get the quote produced without any issues. Our client complimented us on the experience he had with us. In the past he had a personal relationship with his bank manager. If he needed finance he could sit down and speak with them. They understood his situation and he felt listened to. In recent years he could only get someone on the phone. It was a regional manager in a call centre who didn't know him and the person on the end of the phone changed often. He didn't feel heard and didn't want to deal with his bank anymore. But he said the experience he now got with us and the non-bank lender was more like it used to be. The lender and our team were readily available to discuss his situation and go through the loan agreement and answer any questions he had and he was happy.

Does your business need a loan? For fast finance quotes, get in touch today at hello@businessloans.ie or call 01 55 636 55.

Recent deal: Loan for expanding Covid-19 solutions company

BusinessLoans.ie is celebrating another successful loan client under the Covid-19 Credit Guarantee Scheme. Our client had a long-standing business in technical product sales and due to the pandemic, started in Covid air filtration solutions. They are selling to big companies and government departments in Ireland. Due to shipping issues they needed to make bigger orders from China and make more space in their warehouse. This warehouse renovation was going to run them close to €100k.

The partner credit team were able to approve them at a low rate and over a 3 year term. Best of all the directors didn’t have to sign a personal guarantee which gave them comfort after the tough trading period in the beginning of the pandemic had made them reluctant to take on debt. But with the deal in front of them they were happy to progress.

If your business needs finance get in touch today. Get fast finance quotes at hello@businessloans.ie or by calling 01 55 636 55.

Ireland's fastest business loans

In recent years banks have upped their game & improved their approvals processes. Generally they will say on advertisements, your business loan can be approved in 24 hours; but they mark it with an asterix, directing you to read the fine print. So a lot of the time you can get indicative rates quickly but to get it to approval & draw down stages you have to submit their full list of documents. With banks that can include items you won’t typically have lying around. This can range from business plans to detailed financial modelling and short, medium and long-term cash flow forecasts. All this takes time and money.

Accountants are currently battling backlogs and are time-poor. They need to prioritise pandemic & Revenue issues over client’s requests from banks. So what can a business owner do if they want a fast finance quote without the fuss? The short answer is to look at options from Ireland’s booming FinTech sector. Many of their advertisements offering decisions in 24 hours are more credible. The reason for this is an online focused application process and using the latest underwriting techniques and data points.

Pre-pandemic, the trade-off for using alternative finance was paying a slightly higher rate. FinTechs simply don’t have access to money as cheaply as the banks. Even then, the difference to the monthly repayment on a typical microbusiness short-term loan could be €30 a month. However, the time and money saved on attending to bank loans makes it worth it.

What’s even better is that many Fintechs have access to government-backed SBCI funds. This now makes them competitive on rates with the banks. Some of these options such as the Covid-19 Credit Guarantee Scheme are due to end on the 31st of December so the time to act is now if you want working capital or assets with the peace of mind of no personal guarantees!

BusinessLoans.ie makes it even faster by getting you multiple business loan quotes from the best alternative lenders in Ireland. We have an in depth understanding of the approvals processes, great relationships with the credit teams and can get your approval information fast. Best of all we will never ask you for a fee. Talk to us today. Email hello@businessloans.ie or call 01 55 636 55.