Business lenders in Ireland: a guide to the main types of lender

There are eight main groups. The quick comparison below shows how they differ, and each one is explained in more detail after it.

• Retail banks (AIB, Bank of Ireland, PTSB): term loans, overdrafts, asset financeAn umbrella term for funding used to acquire vehicles, plant, machinery, equipment or technology, where the asset itself usually acts as security. and State-backed scheme loans. Usually the lowest published rates, but the most paperwork and often security for larger amounts.
• Non-bank lenders: term loans, short-term loans and specialist lending, often faster and with less security than a bank, usually at a higher cost.
• Asset finance houses: hire purchaseA form of asset finance where the company pays for an asset in instalments, often after a deposit, and takes ownership once the final payment and any option-to-purchase fee are made. and leasing for vehicles, plant and equipment, secured on the asset itself.
• Invoice finance providers: advances against unpaid customer invoices, as a revolving facility that grows with your sales.
• Merchant cash advanceA form of finance where a provider advances a lump sum in return for a fixed percentage of the company's future card takings until an agreed total is repaid. and revenue-based funders: a lump sum repaid as a share of future card sales or revenue.
• Online lending platforms: business loans arranged through an online platform rather than a bank.
• Credit unions: some offer business loans, mainly to members in their common bond area.
• State-backed routes: SBCI schemes delivered through partner lenders, and Microfinance IrelandA not-for-profit lender, supported by the State, that provides unsecured business loans of €2,000 to €50,000 to micro-enterprises in Ireland with fewer than 10 employees and annual turnover under €2 million that cannot get credit from banks or other commercial lenders. for micro-enterprises.

The three retail banks are the largest business lenders in Ireland. According to the Central Bank, gross new lending by banks to Irish SMEs was €1.2 billion in the second quarter of 2026, at an average interest rate of 5.59% on new lending.

• Bank of Ireland: business loans from €1,000 to €120,000 that can be applied for online, larger loans from €120,000 to €500,000 over terms of up to 15 years, business overdrafts from €1,000, asset finance from €7,000 and Growth and Sustainability Loan Scheme (GSLSA State-backed SBCI scheme offering loans of €25,000 to €3 million over seven to 10 years through participating lenders, for long-term growth, resilience or climate action projects.) loans. Its loans page says online and phone applications use automated decision-making, up to a maximum of €500,000.
• PTSB: business overdrafts from €1,000, business term loans from €5,000 over up to 10 years, business mortgage loans from €50,000, asset finance and GSLS loans. Its guide to business banking also lists invoice finance provided through Bibby Financial Services Ireland.
• AIB: business loans, overdrafts, sustainability loans and State-backed scheme loans, with a start-up current account for businesses trading less than three years.

Banks suit established companies with filed accounts, steady profits and, for larger loans, security. Apply through the bank’s website, branch or business team, usually starting with your own bank. Banks are authorised and supervised by the Central Bank, and the SME Lending Regulations apply when they lend to small and medium-sized enterprises.

Non-bank lenders in Ireland are companies that lend to businesses but do not take deposits. They fund their lending from banks, funds or capital markets. They often decide faster, ask for less security and lend to companies a bank has turned down, but they usually charge more.

Examples active in Ireland, from their own websites:

• Finance Ireland: machinery and equipment finance, agri finance, commercial property loans from €1 million to €35 million, and the MilkFlex loan for dairy suppliers. Its website states that Finance Ireland Credit Solutions DAC is regulated by the Central Bank of IrelandIreland's financial regulator and part of the Eurosystem.. It is due to start taking GSLS applications (announced 12 October 2026).
• Capitalflow: business equipment and vehicle finance, commercial property loans and bridging loans. Its website states that Capitalflow Group DACA type of Irish private company under Part 16 of the Companies Act 2014 that keeps an objects clause in its constitution, limiting what it can do, and uses the suffix DAC., trading as Capitalflow Commercial Finance, is regulated by the Central Bank. In June 2025 it announced Central Bank approval as a retail credit firm so it could also lend to individuals.
• Close Brothers Commercial Finance: asset finance, invoice finance and asset-based lending for businesses in Ireland. It is due to start taking GSLS applications (announced 12 October 2026).

Non-bank lenders suit companies that need speed, flexibility or a specialist product, or that do not meet a bank’s criteria. Most accept applications online, by phone, or through brokers and intermediaries.

Asset finance providers fund vehicles, machinery, technology and other equipment through hire purchase or leasing. Because the asset is the security, they can often lend to companies with less trading historyHow long a company has been actively trading, and the record of that trading shown in its filed accounts, bank statements and tax returns. than an unsecured lender would accept.

• First Citizen: business hire purchase and leasing over two to seven years, depending on the asset, with up to 90% loan-to-valueThe size of a loan expressed as a percentage of the value of the asset securing it. subject to credit criteria. Its website states that First Citizen Finance DAC is regulated by the Central Bank.
• grenke: equipment leasing in Ireland for small businesses, companies and public bodies, including office technology and other business equipment.
• Fexco Asset Finance and Finór Finance: both listed by the SBCIA State-owned body that makes low-cost funding and loan guarantees available to Irish SMEs, farmers and fishers through participating banks and non-bank finance providers. as liquidity partners for asset finance, leasing and hire purchase.

The banks and several non-bank lenders above also offer asset finance.

Invoice finance releases cash tied up in unpaid invoices. The provider advances a percentage of each invoice and collects or is repaid when your customer pays.

• Bibby Financial Services Ireland: invoice finance, factoring and invoice discountingA confidential form of invoice finance where a company borrows against its unpaid invoices but keeps control of its own credit control and collections., with its website quoting advances of typically up to 90% of invoice value within 24 hours (not guaranteed; the lender decides) and facilities up to €15 million. It is the SBCI’s invoice finance liquidity partner.
• Close Brothers Commercial Finance and grenke also offer invoice finance in Ireland.

Invoice finance suits companies that sell to other businesses on credit terms. It is less useful for companies that are paid at the till or online.

These providers advance a lump sum and take repayments as a share of your future card takings or revenue, so payments fall when sales fall. They usually charge a fixed fee agreed at the start rather than an interest rate.

• 365 Finance: funding of up to €250,000 for businesses trading over six months with monthly card sales over €10,000, repaid as an agreed share of card sales, typically 5% to 15%.
• YouLend: offers funding to eligible Square sellers in Ireland, based on their Square card processing history.

Our guide to merchant cash advance in Ireland explains how the cost works.

Online lending platforms arrange business loans through a website rather than a branch. Linked Finance, founded in 2013, is a long-established Irish platform. Its website lists loans of €10,000 to €500,000 over 6 to 60 months, for companies with turnover over €100,000; the rate depends on the company’s credit grade. It says it secured authorisation from the Central Bank in late 2023. Its term loans need a personal guarantee.

Some credit unions lend to local businesses and farmers, usually members within their common bond. Loan sizes are typically smaller than a bank’s, and decisions are made locally. For example, Claremorris Credit Union’s SME lending page asks for recent accounts, confirmation of your tax position, a statement of net worth and bank statements, with a business plan for requests over €25,000, and aims to decide within 15 days of receiving all documents. The Central Bank’s SME Lending Regulations have applied to credit unions since 1 January 2017.

The Strategic Banking Corporation of Ireland (SBCI) does not lend directly. It provides funding and guarantees through partner lenders. The GSLS offers loans of €25,000 to €3 million over seven to 10 years, unsecured up to €500,000 subject to certain exceptions, until 30 June 2029 or until fully subscribed. You first get an eligibility code from the SBCI, valid for six months, then apply directly to a participating lender. Participating lenders are AIB, Bank of Ireland and PTSB, with Close Brothers and Finance Ireland due to start taking applications (announced 12 October 2026). See our SBCI loans page.

Microfinance Ireland lends €2,000 to €50,000 to micro-enterprises with fewer than 10 employees and turnover under €2 million, including sole traders and start-ups. Its loan packages page lists a 6.5% rate, or 5.5% if you apply through a Local Enterprise Office. Our guide to Microfinance Ireland vs a non-bank loan compares the two.

Some are and some are not. Banks, credit unions and many large non-bank lenders are authorised by the Central Bank. But a firm that lends only to companies may not need Central Bank authorisation at all.

The reason is in the definitions. The Central Bank explains that a retail credit firm is one that provides credit to a natural person in the State. Lending only to limited companies does not appear to fall within that definition. This is why some lenders describe their authorisation in different terms, or say that their payment services are provided by a separate authorised firm. For example, 365 Finance’s website says its account and payment services are provided by Modulr Finance B.V., which is regulated by the Dutch central bank, and Treyd says it is a payment institution supervised by Sweden’s financial regulator.

Regulation matters because it decides which protections you get. The SME Lending Regulations apply to regulated lenders. They require, for example, written reasons when credit is declined, protections for guarantors, and contact after 15 working days of arrears. If a lender is not regulated, these rules may not apply. Our glossary entry on regulated and unregulated lenders explains more.

Check before you share documents or bank details. Scammers copy real lenders’ names and websites.

1. Search the Central Bank’s online registers for the firm’s exact legal name. The Central Bank warns that even if a firm appears to be authorised, you should still make sure it is the genuine authorised firm, for example by checking the contact details against the register.
2. Check the Central Bank’s list of unauthorised firms and its warning notices.
3. Look the company up on the CRO to confirm its registered number, address and filing status.
4. Never pay a fee to get a loan approved or released. The Central Bank’s advice is to be wary of any firm that asks for an upfront fee, and to walk away and stop engaging if you are asked for one.
5. Be cautious of websites that do not say they are regulated, push quick loans and pressure you to decide fast, or promise no credit checks. The Central Bank lists these among the warning signs of scam websites.
6. Call the lender on a number you have found yourself, not one given in an unsolicited email or message.

If you think you have been approached by a fraudulent lender, report it to the Central Bank and An Garda Síochána.

Start with your company’s need, not the lender. Ask four questions:

• What is the money for? Equipment points to asset finance; slow-paying customers point to invoice finance; a one-off project may suit a term loan.
• How long has your company traded? Banks and online lending platforms often want two or more years of accounts. Card-sales funders may consider six months.
• Can you offer security or a personal guarantee? See our guide to secured vs unsecured business loans.
• What is the total cost? Compare the total amount repayable, not just the rate.

Our guide to business loan requirements in Ireland sets out what each type of lender typically checks.

For transparency: the lenders Welcome Finance works with are 365 Finance, Flurish, Linked Finance, Treyd and Triffin. They are listed on our lender panel page. Their inclusion in this guide is factual and is not a ranking.

If your company is a limited company registered in Ireland and needs an unsecured or short-term business loan, working capital, a merchant cash advance, revenue-based finance, stock finance or trade finance, our panel may be able to help. For anything else, such as bank, asset, invoice or SBCI finance, tell us what your company needs and we’ll tell you honestly whether our panel can help, or where to apply instead. Welcome Finance is a commercial finance broker, not a lender, and is not regulated by the Central Bank of Ireland. We work only with companies registered in Ireland (LTD, DAC, PLC or ULC). We are paid commission by lenders and do not charge your company a fee. We never ask for payment upfront.