- 11 November 2022
- Posted by: Lucinda
- Categories: Business Finance, business loans
Top Tips For Getting A Business Loan
Getting a business loan in Ireland needn’t be a long, complicated process. Some lenders look for a full business plan, while others are happy with just the basic information to assess your business loan application. Lenders will want to know a bit about your business and see that your company has the ability to repay the loan. Here are some tips to make your business loan application as smooth and stress-free as possible.
- Create a business plan. Set out your plan clearly and concisely, with information about your business, how much you need to borrow and what the business loan in Ireland is for. This can be a short summary or a more detailed plan depending on the funder’s requirements. Usually a 4-5 page document will be sufficient.
- Have your documents ready. Lenders may ask for supporting documentation, such as up-to-date financial accounts, a tax clearance certificate, bank statements, financial projections etc, so have your documentation ready when making your business loan application.
- Assess your funding options. With the huge range of funding options on the market, it’s important to get the right solution that’s suited to your business. What kind of business loan to you need, and how much time do you need to repay? Doing your research will ensure you get thefunding product that works best for you.
- Get the experts in.You want to give yourself the best chance of success with your business loan application, so having an experienced professional adviser could make all the difference in getting your business loan application over the line. A good adviser will have a clear insight into the market, and know exactly what lenders are looking for, who to talk to, and how to present your application in the best light.
At Clancy Business Finance, we pride ourselves in making your business loan application simple and hassle-free. Whether you need quick and easy access to funds, or a longer-term loan for investment and expansion, we have the experience and expertise to arrange the best business loan to meet your business needs.
We’ll give you all the advice and guidance you need through the entire process, until your business loan has been drawn down.
And we don’t stop there – once your business loan is in place, we’ll always be on hand to help out with any future business funding needs.