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Important information
Republic of Ireland - New Lending to Companies (Unregulated)
Lending to companies is provided by the Irish Branch of Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
Important Information: Please note that the provision of this product does not require Central Bank of Ireland authorisation and, as a result, it is not covered by the Central Bank’s requirements designed to protect consumers however Close Brothers Limited will adopt SME regulations for companies.
Northern Ireland - New Lending to Companies, Partnerships and Sole Traders (Regulated & Unregulated)
Lending in Northern Ireland is provided by Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
ROI - Companies (Unregulated) Republic of Ireland - New Lending to Companies (Unregulated) Lending to companies is provided by the Irish Branch of Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
Important Information: Please note that the provision of this product does not require Central Bank of Ireland authorisation and, as a result, it is not covered by the Central Bank’s requirements designed to protect consumers however Close Brothers Limited will adopt SME regulations for companies.
NI - Companies, Partnerships and Sole Traders (Regulated & Unregulated) Northern Ireland - New Lending to Companies, Partnerships and Sole Traders (Regulated & Unregulated) Lending in Northern Ireland is provided by Close Brothers Limited under the trading style Close Brothers Commercial Finance.
Close Brothers Limited is a UK registered private limited company and is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
How do business loans work?
Business loans, otherwise known as practice loans, are used to fund investment in your business when you need it and can be used for various purposes, including buying into or starting up a new business or practice, a renovation or simply to cover cashflow.
In the Republic of Ireland, business loans are only available to incorporated entities (limited companies).
Who are business loans for?
This product is suitable for those who need the funding to start, grow or manage their business.
It’s often used to fund intangible investments, like training, professional development, and energy efficiency.
Benefits of a business loan
Access to capital
Business growth
Manage cash flow
Flexibility
An example of how a business loan works...
Let’s say you own a dental practice that requires refurbishment. To fund the renovation project, you look at getting a loan to minimise the impact to your cash flow.
It will enable you to purchase multiple elements required from builders’ renovation costs, cabinetry and furniture, all under one agreement.
Frequently asked questions
Why would I need a business loan?
Retaining valuable cash resources in your business is as important now as it has ever been. The main advantage of finance is that it helps a business to manage its cash flow.
What’s the repayment schedule?
The flexible repayment terms are tailored to suit your business’s needs.
What is the maximum repayment term?
We can arrange repayment terms of up to seven years.
What is the minimum amount I can loan?
We can arrange funding from as little as £5,000 upwards.
Do I have to pay a deposit?
No deposit is required, and the loan will be tailored to suit you with fixed payments over an agreed term.
What is low start and how can it be used to ease the payment schedule?
Our low start facility provides a flexible repayment option, enabling us to match repayments based on expected income levels.
This means you could pay a minimal monthly payment for an initial period, up to a maximum period of six months. This allows you time and space to build up cash flow in the business while having full use of the equipment.
This is especially important for new start or expanding businesses.
Can an established business take advantage of the low start facility?
Yes, we offer this for both new and established businesses.
How will I receive the funds?
With our in-house specialist underwriters providing quick decisions the funds will be paid by Faster Payments into your bank account within an agreed time.
What is the application process like?
The process is straightforward:
- Let us know how much you would like to borrow
- We will then tailor a loan over an agreed term to suit your circumstances
- If you decide to proceed, credit checks will be completed.
- On approval, the Loan will be made available. Funds will be paid by Faster Payments into your bank account
Will previous negative financial decisions affect the application?
We make decisions based on the overall health and future plans of a business.
Providing us with all the information we need up front means we can address any queries with our in-house team of underwriters.
Why would I need a business loan? Retaining valuable cash resources in your business is as important now as it has ever been. The main advantage of finance is that it helps a business to manage its cash flow.
What’s the repayment schedule? The flexible repayment terms are tailored to suit your business’s needs.
What is the maximum repayment term? We can arrange repayment terms of up to seven years.
What is the minimum amount I can loan? We can arrange funding from as little as £5,000 upwards.
Do I have to pay a deposit? No deposit is required, and the loan will be tailored to suit you with fixed payments over an agreed term.
What is low start and how can it be used to ease the payment schedule? Our low start facility provides a flexible repayment option, enabling us to match repayments based on expected income levels.
This means you could pay a minimal monthly payment for an initial period, up to a maximum period of six months. This allows you time and space to build up cash flow in the business while having full use of the equipment.
This is especially important for new start or expanding businesses.
Can an established business take advantage of the low start facility? Yes, we offer this for both new and established businesses.
How will I receive the funds? With our in-house specialist underwriters providing quick decisions the funds will be paid by Faster Payments into your bank account within an agreed time.
What is the application process like? The process is straightforward:
- Let us know how much you would like to borrow
- We will then tailor a loan over an agreed term to suit your circumstances
- If you decide to proceed, credit checks will be completed.
- On approval, the Loan will be made available. Funds will be paid by Faster Payments into your bank account
Will previous negative financial decisions affect the application? We make decisions based on the overall health and future plans of a business.
Providing us with all the information we need up front means we can address any queries with our in-house team of underwriters.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
If you miss or expect to miss a repayment under your business loan agreement, please get in touch with us straight away to discuss it with our team. The risks of missing a repayment under your loan agreement are that we may:
- Cancel our agreement with you and require you to repay the full amount of the loan immediately
- Disclose information about your loan to the credit reference agencies
- Set off any amounts you owe us under the agreement against any funds you hold with us in other accounts
- Take enforcement action against you to recover any amounts you still owe if necessary
- Restrict your access to any other credit facilities you have with us and require you to immediately repay those facilities
