Business Term Loans Ireland

Fast, simple, affordable business loans - up to €500,000 - in 24 hours
5 Minute Application
Fast, Flexible, Fair
24 Hour Decision Time
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Business Term Loans in Ireland

Business loans allow a business to seize a business opportunity, alleviate cash flow pressure or finance unexpected bills. Alternative business loans are becoming more and more popular in Ireland. This is due to the daunting and lengthy application process for business loans through banks. Many go through the process and wait 6 weeks to be told ‘no’. This route is simply not an option for many small businesses. Irish SMEs need access to capital and they need it quickly. We believe that the Irish SME borrower experience needed to be improved. That’s why we have built our software with SMEs in mind at every step of the way. The whole loan process for our business term loans takes place online and is digitised.

Our business term loans are suitable for:

● Companies seeking larger loans - our term loans are up to €500k
● Companies whereby the majority of their revenue is not from card sales in person or online



We understand how important it is for SMEs to be able to access finance for working capital or growth. Register with us today to apply for a business term loan. We’ll ask you some basic details about your business and for some documentation. We aim to have a decision within 24 hours. Once approved, drawdown is fast! 

 

Businesses Suitable to Term Loans

Our term loans are repayable monthly by direct debit and cater to the below industries & more:

Farming

SaaS

Equipment

Professional Services

Purchase of Stock

E-commerce

What is a term loan? 

A business term loan is a type of loan designed to provide financing for specific business purposes, such as expanding operations, purchasing equipment, refinancing existing debt, or funding other large expenditures. These loans are typically repaid over a fixed term with regular payments of principal and interest.

Whether a business term loan is suitable for your business depends on various factors, including your business's financial situation, needs, and objectives.

 

How do I know if a term loan is suitable for my business?

Here are some considerations to help you determine if a business term loan is suitable for your business:

  • Purpose: Assess whether the intended use of funds aligns with the terms and conditions of a term loan. Research other loan types that are available such as merchant advance loans, invoice finance or asset finance. 

  • Repayment Ability: Evaluate your business's cash flow and ability to make regular loan payments. Consider whether your business generates sufficient revenue to cover the loan payments along with other operating expenses. Generally, term loan repayments are once a month. Assess whether this chunk per month is suitable for the business's cash flow.

  • Term Length: Determine if the repayment term offered by the lender matches your business's needs. Longer loan terms may result in lower monthly payments but could also lead to higher total interest costs over the life of the loan. 

  • Interest Rate: Understand the interest rate structure of the loan and whether it is fixed or variable. 

  • Collateral Requirements: Consider whether the lender requires collateral to secure the loan. If so, evaluate whether your business has sufficient assets to pledge as collateral and whether you are comfortable with the risk involved.

  • Eligibility Criteria: Review the lender's eligibility requirements to determine if your business qualifies for a term loan. Factors such as credit history, business profitability, and time in operation may impact your eligibility.

  • Costs and Fees: Assess any associated costs and fees, such as origination fees, application fees, and prepayment penalties. Factor these expenses into your decision-making process to determine the overall affordability of the loan.

  • Future Growth Plans: Consider how the loan will impact your business's financial flexibility and ability to pursue future growth opportunities. Evaluate whether the benefits of obtaining financing outweigh the associated costs and risks.