If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

refinancing a business and moving banks

Reagh · 2012-04-18 14:37:32

Our business is currently engaged with a european bank that have been operating in ireland for the last number of years. Due to changes in european policy our particular business needs refinancing over the next 6 months. It has become realistic to us that we will not get the finance from our current bank. Although the last…

18-04-2012 2:37pm

#1

Reagh

Registered Users, Registered Users 2 Posts: 12 ✭

Join Date: July 2010

Posts: 4

Our business is currently engaged with a european bank that have been operating in ireland for the last number of years. Due to changes in european policy our particular business needs refinancing over the next 6 months. It has become realistic to us that we will not get the finance from our current bank.
Although the last couple of years have been tough for our sector the long term prospects remain positive. Having spoken to a major player involved in the industry last week I am led to believe that another bank would be willing to deal with us (as other business have moved to them recently.). I am well educated, enthuastic and driven but as I am young have not much experience in how I should deal with meeting this new bank. We would be looking to finance the loan over 15 years and our turnover would increase to between 4.5million and 4.8miillion after the new works have been carried out. (currently between 3.9 and 4.2 ml.) If we secured the new finance our repayments per product sold would actually decrease and our business would be set up for the next 15+ years.
I would like to get advice and meet someone to talk this through.
any advice??
Pm me and I will give a broader insight into the proposition..

0