You could approach a lender directly seeking finance but your chances of success are dependent on a number of factors. Depending on the nature of the enterprise and the amount sought you may be able to secure funding from one of the banks but credit decisioning for these loans has been centralised so you are depending on your overworked loan officer being able to present a high quality funding proposal to the bank’s Credit Department.
You will increase you chances of success if you retain us to help you compile a comprehensive funding proposal which fits in with the banks credit policy. Where a proposal is an exception to policy it can often be sanctioned if it is structured in a manner which mitigates the the risks to the Credit Committees satisfaction.
For larger amounts (€10m+) in many cases you may need to source finance from a non-bank lender. Most non-bank lenders are fishing in different pools. Some will finance commercial property, others residential. Many will advance bridging finance, but some restrict their offering to closed bridging or for deals where security cover is very strong. Some will finance property development but they may specialise in either commercial development or residential development. Some are short term players and some will advance term debt. Some focus on amortisation of debt during the term and others offer more flexibility and may even offer interest roll-up in some circumstances.
To add to the above many have particular requirements regarding borrower type, industry sector, loan amount, gearing level, recourse, pricing and geographic area.
A key part of successful funding is knowing how to structure the deal and which proposal to put on front of which funder. While many finance houses will claim that they start with a blank page and can look at any deal the fact is that they all either have a credit policy which restricts what they can offer or alternatively they have a preferred sector outside of which they don’t operate to any great extent.
We have existing relationships with most bank and non-bank lenders and can apply our experience and expertise to find a solution to your financing requirement, freeing you up to run your business.
Contact us today on 01 546 1100 for a no obligation discussion, make contact through our Contact Form or book a 15 minute video call with us here.