The Best Business Financing Available in Ireland

Posted by on 13th May 2022


Looking for a business loan for a startup?

Linked Finance is a leading online lending platform in Ireland, with a mission to help small businesses grow.

We offer loans of up to €100,000, and our application process is quick and easy. Plus, we have a great team of dedicated business loan specialists who are always on hand to help.

Which source of finance is the best for a business?

There is no one-size-fits-all answer to this question, as the best source of finance for a business will depend on the individual circumstances of that business. However, Linked Finance offers some of the best business loans in Ireland, with competitive rates and terms that can be tailored to suit your needs.

Regardless of your type of business, size, or sector, if you are looking for business finance, there is a solution for you.

How do I finance a business in Ireland?

There are several ways to finance a business in Ireland. One option is to apply for a business loan from Linked Finance, which offers loans of up to €100,000. Another option is to seek investment from venture capitalists or angel investors.

Getting a business loan may require you to put up collateral, such as your home or another asset. However, Linked Finance does not require any collateral for our loans, making us a popular choice for small businesses in Ireland.

If you are looking to finance a business in Ireland, the best place to start is by speaking to one of our dedicated business loan specialists. They will be able to assess your situation and offer tailored advice on the best solution for you.

How to get a business loan for a startup?

To apply for a loan you will typically need to meet the following criteria:

-You must be aged 18 or over

-You must be a resident of Ireland

-You must have been in your current job for at least 3 months

-Your business must have been trading for at least 6 months

-Your business must have a turnover of at least €50,000 per year

-Good credit history helps

5 Key things to consider when financing a startup:

1. Research the different types of finance available to you: There is a range of finance options available to startups, from government grants and loans to private equity and venture capital. It is important to research the different types of finance available to you to find the best solution for your business.

2. Speak to a business loan specialist: At Linked Finance, we have a team of dedicated business loan specialists who are always on hand to help. They will be able to assess your situation and offer tailored advice on the best solution for you.

3. Create a solid business plan: A well-thought-out business plan is essential when applying for finance. Your business plan should include realistic financial projections and an overview of your business model.

4. Be prepared to put up collateral: Some lenders may require you to put up collateral, such as your home or another asset, to secure a loan. However, Linked Finance does not require any collateral for our loans, making us a popular choice for small businesses in Ireland.

5. Understand the risks involved: Before taking out a loan, it is important to understand the risks involved. Make sure you are comfortable with the level of risk you are taking on and that you have a plan in place to repay the loan if things don’t go as planned.

What you should avoid while looking for business financing:

There are a few things to avoid when looking for business financing, such as:

– Applying for finance without doing your research first: It is important to research the different types of finance available to you to find the best solution for your business.

– Not having a solid business plan: A well-thought-out business plan is essential when applying for finance. Your business plan should include realistic financial projections and an overview of your business model.

– Taking on too much debt: Before taking out a loan, it is important to understand the risks involved. Make sure you are comfortable with the level of risk you are taking on and that you have a plan in place to repay the loan if things don’t go as planned.

– Not speaking to a business loan specialist: At Linked Finance, we have a team of dedicated business loan specialists who are always on hand to help. They will be able to assess your situation and offer tailored advice on the best solution for you.

What other options are available for financing a startup?

In addition to business loans, there are several other finance options available to startups, such as:

– Government grants and loans: There are several government schemes available to support businesses in Ireland. These include the Enterprise Ireland Innovation Voucher Scheme and the Local Enterprise Office Microenterprise Loan Fund.

– Private equity and venture capital: Private equity and venture capital firms invest in businesses with high growth potential. This type of finance is typically only available to businesses that have already achieved a certain level of success.

– crowdfunding: Crowdfunding is a relatively new way of financing a business. It involves raising money from a large number of people, typically via the internet.

– Personal savings: Using your savings to finance your business is often the most straightforward option. However, it is important to be realistic about the amount of money you will need to get your business off the ground and to ensure that you have enough left over for personal living expenses.

– Family and friends: Asking family and friends for financial support can be a good option if you are struggling to secure traditional forms of finance. However, it is important to draw up a formal agreement to avoid any personal disagreements further down the line.

Applying for finance can be a daunting task, but at Linked Finance we are here to help. Our team of dedicated business loan specialists is always on hand to offer tailored advice and support. Contact us today to see how we can help you.

Business Loans but Different

A Better Way to Borrow for Your Business

Linked Finance connects great local businesses who need loans with thousands of individual lenders. This is about using technology to bring business lending back to basics; real people with savings lending to great local businesses at attractive interest rates. Businesses get the funds they need to grow, lenders make a fair return. Everybody wins!

If you need a loan to grow your business, talk to Linked Finance

  • You get a same-day credit decision.
  • You can borrow up to €300K.
  • No early repayment penalties.
  • A friendly, no-hassle approach.
  • Promote your business.
  • Win new customers as part of the process.

 

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