SME’s getting the Best Loan out there
Having recently gone through the process of finding the best business loan on the Irish market I understand there is a lot of information out there – which makes it very hard to know which bank to approach.
In Ireland there is definitely a feeling that you are lucky if your business gets approved for a loan and that you should take whatever terms the bank offer – but why should you pay more than you have to?
Below is a comparison of the business loans available to SME’s in Ireland.
| Provider | Product Name | Information | Interest Rate |
| Bank of Ireland | Secured Small Business Loan | Up to €300,000, available to new and existing customers | 5.74% |
| Bank of Ireland | Unsecured Small Business Loan | Up to €300,000, available to new and existing customers | 6.74% |
| AIB | Standard Business Loan | 6.50% | |
| Ulster Bank | Secured Small Business Loan | All Loans are subject to a 1% arrangement Fee of the Loan Limit payable when loan is drawn down | 5.76% |
| Ulster Bank | Unsecured Small Business Loan | All Loans are subject to a 1% arrangement Fee of the Loan Limit payable when loan is drawn down | 8.76% |
| MicroFinance Ireland Directly | Unsecured Micro Enterprise Loan | Business must employ less than 10 staff & have Turnover of less than €2m | 8.80% |
| MicroFinance Ireland through local enterprise office | Unsecured Micro Enterprise Loan | Business must employ less than 10 staff & have Turnover of less than €2m | 7.80% |
| Permanent TSB | Term Loan | Up to €250,000, available to new and existing customers | 6.50% |
| SBCI | SBCI Loan | SBCI Loans are offered through on lending partners AIB,BOI & Ulster Bank at a discounted rate to the Banks standard rates if you meet certain qualifying criteria. | 4.50% |
