FAQs How long will it take you to assess my business or agri-loan application? We aim to have an answer for you within 48 hours of receiving all of your information, excluding weekends and bank holidays. If the borrowing is over €120,000 or requires security, it may take a little longer. 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 for Approval . Was this helpful? Yes No Thank you for your feedback! What are your current interest rates on business loans? Our standard loan rate is 6.31% for unsecured loans or 5.31% for secured loans. Was this helpful? Yes No Thank you for your feedback! Do I need to provide my accounts to apply for a business loan? Up-to-date management accounts or other financial information can help to 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 0818 210 614 to find out more. 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! Do I need to provide security for my loan? If the borrowing is less than €120,000, you do not usually need to provide security. 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! Can I make additional repayments on my loan or clear the balance early? Yes, you can choose to make extra payments or clear your loan early without penalty. Was this helpful? Yes No Thank you for your feedback! Can I draw the loan down to an account in another name? In certain limited circumstances, you may be able to draw your loan down to an account in another name. Please contact our lending team on 0818 210 614 to discuss this further. Was this helpful? Yes No Thank you for your feedback! Can I draw my loan down in stages? In certain limited circumstances, you may be able to draw your loan down in stages. Please contact our lending team on 0818 210 614 to discuss this further. Was this helpful? Yes No Thank you for your feedback! Can I change the date of my standing order after I have drawn down my loan? Bank of Ireland does not offer the facility to change your standing order date after you have drawn down your loan. Was this helpful? Yes No Thank you for your feedback! What happens if I miss a loan payment? If you miss a loan payment, or if you are going to miss a loan payment, please contact us as soon as possible so we can work together to resolve the situation. This will be handled in accordance with the regulations on lending to small and medium enterprises. Was this helpful? Yes No Thank you for your feedback! Can I top up my loan? We don’t currently offer the option to top up your business loan. If you already have a business loan from us and want to make a new loan application, please apply and we will assess your request. 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 Bank of Ireland is not responsible for the information on third party websites.