BusinessLoans.ie is celebrating another successful finance deal. Our client was a studio specialising in live sports streaming, studio hire & localisation services. The business had been performing well, acquiring the latest studio equipment and completed a renovation. They now sported a world-class studio for their own use & to hire to corporates. They were awarded new contracts and needed €75,000 to service them. BusinessLoans.ie organised a fast finance quote at a great rate and they were happy. If your business needs a loan call us today on 01 55 636 55 or email hello@businessloans.ie.
Recent deal: Construction company gets capital for machines & projects
BusinessLoans.ie is celebrating another happy client. An Irish construction firm secured over €110,000 to assist with machinery & working capital for a new housing project. Their business performed well in 2021 but a payment they were expecting was delayed. This impacted their cash flow and planning for their next big job. The owner had identified a used machine at a bargain price. While it was in great condition, it was too old for many asset finance lenders to quote. Our unsecured lender was unconcerned with the age of the asset. The business’s accounts & bank statement performance were strong enough to make the lending decision without taking a charge on the machine. The business owner was able to draw down their funds in days and got a machine that will be of great benefit to their ground works for their new project. On top of this they have some additional working capital left over to assist until the first stage payment comes in, easing cash flow pressure.
Does your business need a loan? Email us at hello@businessloans.ie or call 01 55 636 55 for fast finance quotes.
Recent deal: A brewery gets ahead with BusinessLoans.ie
BusinessLoans.ie is celebrating helping our brewery client get an unsecured loan of €60,000 for business expansion. They have big plans to grow their business this year and need to get some new kit. Big equipment will be attained separately on asset finance. This first loan will help with smaller items and working capital.
If you’re in the brewing or distilling business you may be interested to know that bigger asset finance companies have specialist divisions dedicated to you. They need to have an in-depth understanding of the tools & kit of your trade; and they know the values of the equipment & machinery that goes in to a brewery or distillery, so they can accurately calculate your finance at the lowest possible rates.
If your business needs finance to grow in 2022 talk to us now on 01 55 636 55 or email hello@businessloans.ie.
Six tips for getting business loans from banks in 2022
Speaking with your bank about business loans can be tough as we continue with pandemic issues in 2022. It’s best to get all your ducks in a row beforehand. In the words Abraham Lincoln; “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Here are some quick tips that may help:
1. Get expert advice. Your accountant or an experienced financial adviser will be useful here. If budget is a concern there are supports from your Local Enterprise Office, Enterprise Ireland & more.
2. Assess where your business is currently. Weigh up the strengths, weaknesses, opportunities and threats. Many businesses are pivoting completely or you may just need to focus on a particular area that’s working right now.
3. Be frank with your bank. When you speak with a bank in black & white terms, more focused on the facts & figures you should find them most receptive.
4 . Fail to plan; plan to fail. Write it down in a budget with a clear, concise plan of action detailing realistic forecasts & projections. If there are many variables in your forecasting consider presenting a best-case & worst-case scenario.
5. Hard talk. Be ready for your conversation with the bank & for difficult questions. Have your answers prepared.
6. Consider alternative options. If you have tried your best with the bank but they’re not on board there are alternative business finance options that may work.
The BusinessLoans.ie view is to engage with your accountant, advisers or government agencies & prepare. If the bank declines you don’t give up. Ireland has many alternative business finance options. We can assist with fast finance quotes & we’re here for you 7 days. Email hello@businessloans.ie or call 01 55 636 55.
Recent Deal: €250,000 Funding for Agri Machinery Manufacturer
BusinessLoans.ie recently arranged €250,000 in funding for an Irish agricultural machinery manufacturer.
The business had experienced a period of margin pressure due to rising input costs and supply chain delays. While turnover remained solid, working capital had tightened as stock costs increased and customer payment cycles stretched.
They were frustrated by the volume of documentation and delays involved in a traditional bank application and wanted to explore faster, more flexible alternatives.
We sourced a competitive funding solution with a non-bank lender structured over three years. The facility was approved quickly, offered a strong rate relative to risk, and was structured without a personal guarantee or early settlement penalty.
The funding provided breathing space, stabilised working capital and allowed the business to focus on production and order fulfilment rather than funding concerns.
If your business is experiencing cash flow pressure, margin squeeze or growth-related funding needs, it is worth exploring what options are available.
For a fast, no-obligation finance quote, contact the BusinessLoans.ie team:
Email hello@businessloans.ie
Call 01 55 636 55
Recent deal: A pizza franchisee & a slice of working capital
BusinessLoans.ie is celebrating another successful deal. It was a pizza chain franchisee that wasn’t trading so long. They didn’t have a set of accounts filed with the Companies Registration Office yet and this ruled out most debt financing options. Their bank was unable to help.
BusinessLoans.ie identified a fast finance quote based on their significant card machine turnover. Our lending partner provided a merchant cash advance of €25,000 with a flexible repayment that fits with their cash flow cycle. The client got their working capital and they were happy. Does your business need a fast finance quote? Email us at hello@businessloans.ie or call 01 55 636 55.
Recent deal: A plant hire company buys older machinery with unsecured Covid loan
BusinessLoans.ie is celebrating another successful deal. Our client was a plant hire company who was used to getting machines with asset finance. They found it easier for approval because hire purchase enables the asset finance company to take away the machine if they fail to pay. However, asset finance companies are generally only interested in financing assets that are not too old. Our client wanted an older machine that was still in great condition and asked us for help.
Their business had been affected by the pandemic. Turnover was down after the series of lockdowns affecting the construction industry. We organised an unsecured loan quote, at a great rate and without a personal guarantee under the Covid-19 Credit Guarantee Scheme. They got their €80,000 for their machine in days and they were happy. Does your business need a loan? For fast finance quotes, email us at hello@businessloans.ie or call 01 55 636 55.
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