Business Loans and Grants

If you are looking for a straightforward business loan (also sometimes called a commercial loan), we can help you find what you need. A commercial loan is for a fixed sum repaid over a fixed period (called the "term" of the loan).

We have specialist partners that can help you access the best interest rates, from lenders that will take a flexible approach and be sympathetic to difficult circumstances.

Loan type,

  1. Unsecured loans
  2. Secured loans
How much can you borrow?
  • Loan amount from - € 30,000 to € 1,000,000
  • Repayment time – 3 to 10 years
  • Interest rate – starting from 2.75%

Asset Leasing and financing

Asset finance is an easy way to spread the cost of new business purchases such as vehicle or machinery without tying up capital, disrupting your cashflow or opting for bank loan or overdrafts.

It can be used for both new and used assets, or as a mechanism for releasing the value from those that you already own.

Options
  1. Hire Purchase

Hire purchase (HP) is a popular option if you want to own the asset outright at the end of the agreement term.

Why should you consider Hire Purchase?

  • Simple, straightforward product
  • Tax advantages
  • You choose how the finance is structured. With a flexible deposit, fixed or variable payments, and the option of a final balloon lump sum payment at the end of the agreement.
  • Ultimate ownership- You have the right to buy the asset at the end of the agreement term.
  • Seasonal payments- Offered for the agriculture market to tailor repayments to meet seasonal income.
  1. Lease

A popular option if you are not looking to own the asset outright at the end of term.

Why should you consider leasing?

  • Leasing can be tax efficient as repayments are counted as a business expense.
  • You can control costs allowing for easy budgeting for maintaining the equipment. You can also choose to include maintenance costs in the repayment plan.
  1. Asset Refinance

Asset refinance is a way of making existing assets work harder for you and can help provide a welcome injection of working capital into the business at a time when it is needed most.

Business of all sizes can benefit from the introduction of working capital for a variety of reasons, including expansion, new contracts or setting up new projects.

But with many banks making their lending criteria more stringent, easy access to business funding can often be limited. The refinancing of existing assets is a neat solution to this problem and makes assets work harder for the benefit of the business, without having to fulfil the strict lending criteria of some funders on new assets.

How it works?

  • Only available on assets that are fully owned by the business and not those that are currently subject to any existing or outstanding financing arrangements..
  • Once the asset is refinanced, the business makes agreed monthly payments over the contracted period until the sum and interest is repaid.
  • The lender can take the asset if the business cannot keep up with the repayments to recoup their losses.

Why should you consider asset refinance?

  • Since its low in risk, the lender will have more confidence in lending to the business and would not require a personal guarantee or a deeper look into the business’s credit history.
  • Approval for asset refinancing can be fast and efficient. This means the business owners can inject cash quickly in a matter of days.
  • Asset refinancing allows businesses to free up working capital on assets that they are already using as opposed to brand new equipment.
  • Help businesses manage its cashflow over the period of the asset refinance agreement.

Other Finance Options

Bridging Finance

Bridging finance is usually a type of short-term secured business loan. It is best thought of as a temporary loan which gets you from A to B, until you can either clear the loan in full or secure a more permanent form of finance. That is where the “bridge” idea comes in – finance bridging a gap to get you from one place to another. Both corporations and individuals use bridge loans and lenders can customize these loans for many different situations.

Why should you consider bridging loans?

For property developers bridging finance facilitates the purchase of a site or existing property to build or upgrade. Often conventional lenders will not provide financing at this early stage but once the development is complete the loan can be refinanced at more attractive terms.

State support

“Every business needs a helping hand at some point in their development.”

The government agencies will provide low-cost business loans and grants to help your business start, grow and expand. From start – ups to well established business can avail to loans and grants provided through these bodies.

Government agencies that we work closely to provide finance solutions for our clients include,

  • Micro Finance Ireland
  • SBCI
  • Local Enterprise Office
  • Enterprise Ireland
Invoice financing

Invoice finance is a way of borrowing money based on what your customers owe to your business. Unpaid invoices represent money that will be paid to you, but you must wait for the payment terms to elapse, which could be anything from 14 days to 90 days or more. Invoice finance gets you most of the cash immediately, so you do not have to wait to get paid. The concept is simple — rather than waiting days or weeks for your invoices to be paid by customers, a lender will ‘purchase’ your outstanding invoices so you can move on with your business. You do not have to wait for the standard payment term to elapse but instead you are free to pay your suppliers, buy in more stock or invest in new avenues of business.

How it works?

With an invoice finance facility in place, every time your business raises an invoice for goods or services, the finance provider will pay most of the value of that invoice straight into your account. Usually within a day. This means you will have 80%-90% of the money immediately. The rest, minus a small fee, is deposited in your account when the customer pays.

Why should you consider invoice financing?
  1. Immediate cash- When opting for business loans or any other financing option, it can months to be approved. In comparison, invoice financing gives you access to finance quickly helping you run the business smoothly.
  2. Better chance of getting approved- Your credit score, collateral and loan history are not major factors in determining your ability to get invoice finance as it considers the payment history of your customers.
  3. Improved customer relationship- Some of your responsibilities as a business owner can be frustrating and difficult. Debt collection is one of those tasks. By handing over this responsibility to us, you do not have to look like the bad guy when it comes to collecting money.
Property Finance

Property Finance is a fantastic option if you feel that your business does not meet the standard lending criteria. We attempt to give all businesses a chance and have a much less black and white approach, so if your business has historically experienced adverse credit, we still want to hear from you. At the same time, just because Property Finance is a secured business loan, it does not mean that businesses with low fixed assets are unable to use this product, as you can use a charge against your residential property instead.

Our property finance products

We have two types of products that fall under Property Finance, which we will explain in greater detail below. If you are still unsure about which is most suitable for your business, get in touch with our team to organize a phone consultation.

Commercial property finance

Commercial property finance permits your business to borrow what it requires by securing your loan against either a commercial property, residential property, or a property portfolio. Commercial property is a feasible option for start-ups and SMEs.

Residential mortgages

A residential mortgage is basically a large term loan taken out by one or more individuals to buy a home to live in. Whether you are a first-time buyer, moving homes or re-mortgaging, this is the type of mortgage you will need.

What kind of a borrower are you?
First-time buyer-

Whether it is your first investment property, or you are adding to an existing portfolio, our criteria are designed to make your investment work for you.

Moving-home-

As a moving home borrower, you will have two options primarily. To either take your existing mortgage with you to the new property (porting a mortgage) or you can simply get a new one. Porting a mortgage is like re-mortgaging but with your existing lender.

Re-mortgaging-

Re-mortgaging involved changing your existing mortgage into a new one. This can help you get a better deal on your monthly repayment or give you an opportunity to consolidate your debts under a better interest rate.

What Next?

If you think this funding option is the perfect fit for you, then check your eligibility by filling the online application form which takes only a few minutes. Once the enquiry is processed, one of our team members shall organize a consultation to check your eligibility. After the paperwork and legalities have been dealt with, you shall receive your funding and unlock the potential of expanding and growing your business to greater heights.