Fundraising for SMEs
If you are an SME or a micro-enterprise (less than 10 employees), and need new funding (or a review of existing bank funding) we can assist. With our backgrounds in banking and in more recent times, ‘hands on’ consultancy with Government agencies on SMEs we have unique expertise in this area, getting real results for our clients and accessing funding appropriate for their needs:
- We are experts in SME lending & Agri-finance
- We assist with business plan report writing and professional funding requests to multi-finance providers
- We are contractually engaged financial consultants for the Credit Review Office (since 2010), Microfinance Ireland (since 2012), and the Strategic Banking Corporation of Ireland (since 2016)
- We negotiate term lending for SMEs with AIB, Bank of Ireland and Ulster Bank delivering optimum credit in terms of price, security and loan terms
- We hold agency agreements with alternative lenders also. More can be found here
- We are on the mentor panel for Limerick City Local Enterprise Office, advising SMEs and micro-enterprises on optimum fund-raising
- We tendered for, and completed a review of a Review of the Credit Guarantee Scheme for the Department of Jobs Enterprise and Innovation – all our recommendations were accepted as proposed
- We are currently working with the Strategic Banking Corporation of Ireland (SBCI) to assist them develop risk sharing capabilities, via the Credit Guarantee Scheme and European support mechanisms
For additional information on any aspect of the above, please contact one of the team below.
Invoice discounting is a form of short-term borrowing often used to improve a company’s working capital and cash flow position. Invoice discounting allows a business to draw money against its sales invoices before the customer has actually paid. They pay an annual fee for this service and an interest rate for the credit provided. AIB & BOI only really look at SMEs with turnover of €500k+ for this service. Alternative providers work with smaller SMEs with growth potential
Asset finance is a sustainable form of funding that can enable a business to purchase or refinance capital equipment such as commercial vehicles, print machinery or construction and plant, spreading the cost over an agreed period of time. This funding is normally done by way of a lease agreement over the depreciated life of the asset (3-7 years typically) at an interest rate.
Unlike many European countries, Ireland did not have a state development bank to sustain funding to businesses throughout the financial crisis. During Ireland’s exit from the EU/IMF programme in late 2013, the Taoiseach and Chancellor Merkel agreed that the German promotional bank Kreditanstalt für Wiederaufbau (KfW) would help finance the Irish SME sector. It was this European agreement that led to the creation of the Strategic Banking Corporation of Ireland (SBCI), ensuring that in future, Irish businesses have access to long-term, patient funding.
The Department of Finance and the National Treasury Management Agency worked throughout 2014 to create the necessary mechanisms to establish the SBCI. Building on the initial funding offer from the KfW, the project team added funding from the European Investment Bank (EIB) and the Ireland Strategic Investment Fund, a new fund to which the assets of the National Pensions Reserve Fund were transferred.
The Government approved this approach and legislation enabling the establishment of the SBCI was passed by the Oireachtas in July 2014.
The SBCI was formally launched by the Minister for Finance, Michael Noonan, TD on 31st October 2014, in conjunction with Minister Howlin, TD, the German Minister for Finance, Dr. Wolfgang Schäuble , President Werner Hoyer of the EIB and Dr Ulrich Schröder of the KfW.