Business loan FAQ
One of the loan products we offer at Braemar Finance is Business Loans. Find out more about our business loans, including what they encompass, repayment terms and how you can apply with our FAQ below.
What can I use a business loan for?
This unsecured loan product can be used for a variety of purposes such as buying into or starting up a new business, a renovation/refurbishment, or simply to cover multiple overheads.
To find out more, visit our business loan page
Contact one of our Area Sales Managers
To ask a member of the team to get in touch, fill out our enquiry form
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.
To find out more, visit our business loan page
Contact one of our Area Sales Managers
To ask a member of the team to get in touch, fill out our enquiry form
What is the minimum amount I can loan?
We can arrange funding from as little as €1,000 upwards.
What is the maximum repayment term?
We can arrange repayment terms of up to 7 years.
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.
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 other provisions are made for businesses to ease the payment schedule?
Assuming we get the information, we need, and the underwriting team agrees, we can offer our Low Start facility. Existing loans or debt can also put pressure on the cash flow of a business wanting to expand so we can consider consolidating debt to free up valuable cash flow, which can be reinvested back into the business.
Still have questions?
Contact one of our Area Sales Managers
To ask a member of the team to get in touch, fill out our enquiry form
What is a Low Start facility?
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 do I apply for finance?
Simply tell us how much you wish to borrow, the purpose of the loan and the term you prefer. The loan will be tailored to suit you with fixed payments over an agreed term. In the early stages, most communication is conducted by email or phone calls, or a mix of the two, however we’re also happy to meet face-to-face if that’s your preference. We are very flexible and adapt to your needs – we understand you’re busy during working hours, and we’re happy to speak or pick up messages and texts at a time that suits you.
Will previous negative financial decisions affect the application?
Understandably and given the tough trading conditions that Covid has brought, some clients have been known to withhold what they feel could be perceived as negative information, thinking it will lead to their application being declined. This is not the case in Braemar Finance, because we make decisions based on the overall health and future plans for the business.
Knowing everything up front means we can address any queries and explain the situation to our in-house team of underwriters, helping them to reach the right decision for us both.