How to Apply for Revenue Based Lending in Ireland (Step by Step)
Gary Grimes
CEO & Founder | Head Of Revenue at Simplí Finance
Published:
Applying for revenue based lending in Ireland is significantly simpler than applying for a bank loan. There is no lengthy application pack, no months of back-and-forth with a credit committee, and no requirement to pledge your property.
At Simpli Finance, we have helped hundreds of Irish businesses through the process. This guide walks you through exactly what to do, from your first conversation to the moment the money lands in your account.
What You Need Before You Apply
The most important thing to have ready is a clear picture of your monthly revenue for the past six months. This means your bank statements, card terminal reports, or both, depending on how your business accepts payment.
You also need to know what you want the funding for and roughly how much you need. You do not need a detailed business plan, but having a clear purpose for the funding helps us move faster and match you to the right amount.
Step One: Know Your Revenue Figures
Before you do anything else, pull together your trading data. Six months of bank statements is the starting point. If you take card payments, your terminal reports for the same period are also useful.
Know your average monthly revenue. If your business turns over €30,000 per month on average, you are already in a strong position to access a meaningful advance. If you are unsure of your monthly figure, your accountant can help you pull it quickly.
Step Two: Speak to a Specialist Broker
Revenue based lending is not widely offered by pillar banks in Ireland. Accessing the best options means working with a specialist broker who has relationships with multiple lenders and understands what each one looks for.
At Simpli Finance, our team works across the Irish alternative finance market every day. We assess your situation and match you to the right lender and product, rather than asking you to approach multiple providers yourself and hope one says yes.
Step Three: Submit Your Information
Once you have decided to proceed, the information required is minimal. We typically need six months of bank statements, confirmation of your monthly revenue figures, and basic details about your business and the purpose of the funding.
There are no lengthy forms to fill in and no requirement for a formal business plan. We take what you share, assess it quickly, and come back to you with a clear view of what is possible.
Step Four: Review Your Offer
If your application is approved, we present you with a clear offer showing the advance amount, the factor rate, the total repayable amount, and the daily or weekly repayment percentage. Take the time to read this carefully.
We walk every client through the numbers before they sign. If anything is unclear, ask. We would rather spend ten minutes explaining the detail than have a client agree to something they did not fully understand.
Step Five: Receive Your Funds
Once you accept the offer and the agreement is signed, funds are typically in your business account within five business days. In most cases it is faster. There is no further underwriting delay once the offer is accepted.
From the day you first speak to us to the day the money arrives in your account, the entire process can take as little as a week. For businesses that have their information ready, it is sometimes faster than that.
FAQ: Applying for Revenue Based Lending in Ireland
Can I apply online?
Yes. The initial application process can be handled entirely online or over the phone. You do not need to visit an office or attend any in-person meeting.
What if my bank statements show some irregular months?
Irregular months are common and do not automatically prevent approval. We look at the overall picture. If there is a clear reason for a dip, such as a renovation period or a one-off event, we factor that context in.
How long does the decision take?
We aim to give most applicants a fast decision after receiving their information. More complex applications may take slightly longer.
Is there an application fee?
No. Simpli Finance does not charge an upfront application fee. Any costs associated with the advance are built into the factor rate and disclosed clearly in the offer document.
Can I apply if I have already been turned down by another lender?
Yes. A previous refusal does not prevent you from applying with us. The assessment criteria are different and we look at your revenue performance rather than just your credit file.
Conclusion
Applying for revenue based lending in Ireland does not have to be complicated. If you know your monthly revenue, have six months of trading history, and have a clear purpose for the funding, you are ready to start.
At Simpli Finance, we make the process as straightforward as possible. Our team is with you from the first conversation to the day the money arrives.
Get in touch today and we can have a fast decision for you.