FAQ’S How long will a Business or Agri-Loan assessment process take? We aim to have an answer for you within 24 hours* of having all of your information. If the borrowing is over €120,000 and/or requires security, it may take a little longer. *Excludes weekends and bank holidays. Was this helpful? Yes No Thank you for your feedback! How do I maximise my chance of approval? We need to know that your business will be able to pay back the loan. So, give us as much clear information as you can to help our assessment. Check out our TOP TIPS page for more details. Was this helpful? Yes No Thank you for your feedback! What are your current interest rates on business loans? Our standard loan rate is 6.48% (Unsecured) or 5.48% (Secured) Was this helpful? Yes No Thank you for your feedback! When applying for a business loan will I need to provide my accounts? If you have up to date management accounts or other financial information it can help support your application. Financial accounts are not always required, particularly for smaller amounts. You will then be asked to confirm that your tax affairs are up to date. Was this helpful? Yes No Thank you for your feedback! Can I get finance for multiple purposes? Yes, finance is available to meet your business requirements. Call our dedicated Business Loans team on 1890 365 222. Was this helpful? Yes No Thank you for your feedback! Can I get a loan, rather than a finance arrangement, for a vehicle? Yes, you can decide which method is best suited to your needs. To find out more, contact your local Relationship Manager or Business Adviser. Was this helpful? Yes No Thank you for your feedback! Is there flexibility to clear my loan early? Yes, you may choose to make extra payments or clear your loan early without penalty. Was this helpful? Yes No Thank you for your feedback! Will I need security for my business loan application? Usually you do not need to provide security where the borrowing is less than €120,000. If you are a limited company you will need to provide a ‘Personal Letter of guarantee’ from the directors. Was this helpful? Yes No Thank you for your feedback! Bank of Ireland would like to remind all companies, incorporated in Ireland, to register their beneficial ownership details with the Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) (https://rbo.gov.ie/) Any questions in relation to the RBO should be sent to enquiries@rbo.gov.ie
