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business loan/investor

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  • 16-11-2017 12:48pm
    #1
    lakill Farm
    Registered Users Posts: 4,735 ✭✭✭


    Have a client who is looking for a 3rd party loan/investor. small enough amount in the region of €25,000 .

    Outside of the usual channels of Credit union or bank loan either in a business or personal capacity , micro finance,family etc where is the best place to secure a business loan or investor from a 3rd party

    Have had a look in Sunday business post etc but its not something that I have looked into before

    Any suggestions welcome

    Brief
    €25,000
    Security given
    pay back after 12 months
    or pay back over 36/60 months


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    #2
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Crowd lending, (e.g. Linked Finance) might be worth a look.


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    #3
    Fionn101
    Registered Users Posts: 719 ✭✭✭Fionn101


    have they exhausted all of 'The Usual Channels' ?

    Using methods outside of these incur a higher repayment rate.

    Last year Micro-Finance were offering 7.8% , Banks were around 11% and Credit Union was not much better.

    Is the investment for expansion , paying off of debt, or buying more time ?
    (this would help with answering you a little better.)

    Is there a current tax clearance certificate ??

    Cheers,
    Fionn


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    #4
    lakill Farm
    Registered Users Posts: 4,735 ✭✭✭lakill Farm


    Expansion only.
    And tax clearance cert

    Credit Union 8/9%. Bank 5.5a% and micro is as below. (1% discount if you apply via LEO)



    Fionn101 wrote: »
    have they exhausted all of 'The Usual Channels' ?

    Using methods outside of these incur a higher repayment rate.

    Last year Micro-Finance were offering 7.8% , Banks were around 11% and Credit Union was not much better.

    Is the investment for expansion , paying off of debt, or buying more time ?
    (this would help with answering you a little better.)

    Is there a current tax clearance certificate ??

    Cheers,
    Fionn


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    #5
    Fionn101
    Registered Users Posts: 719 ✭✭✭Fionn101


    I have to say it rings a few bells that they won;t seek credit through a normal lending provider. Is there a history of missed repayments and is this is what needs to be hidden from future lenders ?

    to answer your question, you could crowd fund which is probably what you are after, most loans repaying at 9% are auto-filled in seconds.

    secondly would be an investor , however you would need to have full clear financials and pass due diligence.

    Failing all of these, there are providers (at higher interest rates) who deal with loans for those with credit history issues (I am merely guessing on the limited info provided).

    And please do not pay it back over 12 months , it would be more concerned of a default with higher repayments , as it kills cash flow.

    hth,
    Fionn


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    #6
    Cianos
    Registered Users Posts: 4,850 ✭✭✭Cianos


    Fionn101 wrote: »
    to answer your question, you could crowd fund which is probably what you are after, most loans repaying at 9% are auto-filled in seconds.

    What's this?


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    #7
    Fionn101
    Registered Users Posts: 719 ✭✭✭Fionn101


    https://linkedfinance.com/
    offers loans to Irish SME's via peer to peer lending.

    basically a number of investors will take a piece of the loan action, and interest rates and payouts are handled by Links software.

    I have never taken one of these loans so I can;t say much more about them, I have read a few of the threads on boards about using linked as an investment vehicle.
    https://www.boards.ie/vbulletin/showthread.php?t=2057529370

    probably looking at rates of 9-11% from recent reading, and this place is usually a course of action for those who have exhausted all of the regular lending avenues.

    hth,
    Fionn


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