Business Loans
Backing Your Business Plans
Whether you're investing in equipment, purchasing a business vehicle, improving your premises or planning the next stage of growth, talk to Altura about a Business Loan built around your plans.
Business loans up to €400,000
Finance to help your business move forward
Every business is different. Whatever your plans, we're here to listen, understand what you want to achieve and talk you through the finance options available.
A Business Loan could help you finance:
- Business vehicles
- Equipment, tools and machinery
- Stock
- Business premises
- Eligible land or site purchases
- Refinancing of existing business finance
- Other eligible investment in your business
Talk to us about your plans
Whether it's a smaller investment or a bigger project, talk to our team about how Altura could help.
Business finance for bigger plans
Looking to borrow more than €100,000?
Altura can consider larger Business Loans from €100,000 up to €400,000, subject to application, assessment and approval.
Security may be required depending on the nature and circumstances of the application.
We can offer High Value Business Loans from €100,000 to €400,000, with security as required.
Who can apply?
Our Business Loans are available to eligible small and medium-sized enterprises borrowing for the purposes of their trade, business or profession.
Applications can be considered from:
- Sole traders
- Partnerships
- Limited companies
For sole traders and partnerships, borrowers are personally liable for the amount borrowed. For limited company lending, directors may be required to provide personal guarantees.
Not an Altura member yet?
Talk to our team about your plans and we'll explain the relevant membership and Business Loan requirements.
What will I need to apply?
What we'll need will depend on your business, how much you want to borrow and the nature and complexity of your proposal.
Depending on your application, you may be asked to provide information including:
- Tax clearance
- Recent business accounts or Forms 11, as applicable
- Business bank statements
- Details of what you want to finance
- Financial and cashflow projections
- Other supporting information relevant to your application
Depending on the size and complexity of your application, a business plan and projections may be required.
We will advise each business loan applicant on what we require in that case. As business loans are often complex, we will need to advise you on your own case.
Understanding Your Business
We know there's more to a business than numbers.
We'll take the time to understand your business, your plans and your borrowing requirements.
As part of the lending assessment, we'll consider the financial position of the business and its ability to comfortably meet the proposed repayments.
Will I need to provide security?
The security required will depend on the amount you're borrowing, the purpose of the loan and the circumstances of your application.
Security may be required. Our team will discuss any security requirements with you as part of the application process.
How it works
1. Tell us about your plans
Let us know what you're planning and how much you're considering borrowing.
2. Talk to our team
We'll discuss your requirements and explain the information we'll need to assess your application.
3. Provide your information
Send us the relevant business and financial information for your application.
4. We'll assess your application
Your application will be considered in line with our Business Lending criteria.
5. We'll be in touch
We'll contact you about the outcome of your application and any next steps.
Yes, once they are members of Altura Credit Union. Please get in touch in advance to discuss your options.
Depending on the size and complexity of your application, a business plan and projections may be required. We will advise you of requirements when reviewing the proposal.
This will depend on the purpose, amount and if security is required in some cases. We recommend you contact us, so we can advise you on what products are available in your case.
All our business loan products are on variable rates.
SME (Business) Loan Information
If you are considering applying for a business loan, you are entitled to request a meeting with Altura Credit Union to discuss your borrowing requirements and the application process.
When assessing an application, we may require information such as financial statements, management accounts, bank statements, cashflow projections, details of existing borrowings and any other information relevant to the credit assessment. We may also require a business plan outlining the nature of the business, its objectives, financial projections and funding requirements.
Application timelines: Following receipt of all information required to assess your application, Altura Credit Union will progress your application as quickly as possible. If a decision cannot be made within 15 working days, we will advise you of the reason for the delay and the expected timeframe for a decision.
A refusal of a loan application does not negatively affect your credit rating. Existing borrowing and repayment history may however be reported to the Central Credit Register in accordance with applicable legislation.
Where security is required, Altura Credit Union will seek security that is reasonable and proportionate to the credit requested and will explain the reasons for, and implications of, providing such security.
Support If The Business Loan Falls Into Arrears
Our arrears support team will work with you if you get into financial difficulties, our Our SME Loan Arrears Support Booklet (here). explains the process. The most important thing is to engage with us, and keep us informed about your situation. When we work together, we can find a solution to help get you back on your feet.
Borrower Regulatory Warnings
| Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit report, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future. |
| Warning: The cost of your repayments may increase. |
| Warning: The entire amount you have borrowed will still be outstanding at the end of the interest only period. |
Guarantor Regulatory Warnings
| Warning: As a guarantor of this credit, your personal assets, including your home, may be at risk if the borrower does not keep up repayments on this credit facility agreement. |
| Warning: As a guarantor of any credit, you will have to repay the debt amount(s), any interest and all associated charges if the borrower(s) do(es) not. Before you sign this guarantee you should get independent legal advice. |
BNPL = Buy Now Pay Later
