Whether we want to believe it or not, the fact is the banks in the Republic of Ireland are not lending.  Is it political? Is it due to new regulation?  Yes to some extent but the real answer is that there is no money or more correctly, no money allocated to lend.

The sooner business owners realise this fact, the sooner the business can move forward.  On accepting this, you have now recognised the problem.

This is not to say you cannot get money from banks.  But you will find it very difficult today to get funds despite the fact you have a good record or a reasonably good trading history.  The banks are "cherry picking" and in doing so, dropping the SME for the lower risky multinationals.  This is a fact of life now for at least the next five years in Ireland.

Assuming you are not the lucky multinational with a large balance sheet, please read on to find alternative funding ways to yield money and get cash back into the business.

So sources of money for your business are still there but you need to be creative.  For the moment, I am excluding the traditional bank overdraft, bank term loan as typically now, for an SME you need to give outrageous personal guarantees "PG's" or personal assets for security.  Traditional lending is locked in with the new Financial Regulator requirements.  While on paper this is necessary, in practice it is too restricitive, so banks do not lend............so if they do not lend, why put in onerous borrowing ratios that ultimately stop the lend-out further?  It is a no-win scenario for SMEs.


Don't leave it too late!

When money runs out we are at a cross roads and no where to turn.

There is a way out, an alternative approach.