How long does a business loan take in Ireland?

Lenders publish different commitments, and they describe them in different ways. The figures below come from the lenders’ own pages, checked on 22 October 2026. They apply only once the lender has everything it needs.

• Non-bank unsecured term loans: Linked Finance says it typically provides a credit decision within one working day once the required documents are provided, and that funds are typically ready for drawdown within 24 hours of accepting an offer, depending on the size and duration of the loan.
• 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 financeFunding repaid as an agreed share of a company's future revenue rather than through fixed monthly instalments, so repayments flex with sales.: 365 Finance says it gives approval within 24 hours and funding within days. Wayflyer, which funds e-commerce brands, says companies can apply in minutes and access capital in hours. These products lean heavily on card or sales data, which is why they can be quick.
• Bank term loans: Bank of Ireland says it will acknowledge a credit application within 5 working days of receiving all the information it asked for, and aims to give a decision within 15 working days. AIB says a larger or more complex application may take up to 15 business days to reach a decision.
• SBCI-backed loans: the Growth and Sustainability Loan Scheme has two steps. Your company first gets an eligibility code from the SBCI, then applies directly to a participating lender, which runs its own credit process. The code is valid for six months.
• Asset financeAn umbrella term for funding used to acquire vehicles, plant, machinery, equipment or technology, where the asset itself usually acts as security. (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): timing depends on the asset, the supplier’s quote and the lender’s checks on your company. Used or specialist assets can need a valuation, which adds time.
• Invoice financeAn umbrella term for funding secured on a company's unpaid invoices, so cash comes in before customers pay.: once a facility is running, funds against new invoices can be fast. The SBCI says its invoice financing partner can release up to 90% of an invoice within 24 hours of it being raised; the lender decides, and timing is not guaranteed. Setting up the facility in the first place takes longer, because the provider reviews your sales ledger and customers.

Every lender sets its own process, and quoted speeds are not a promise. Treat them as the fastest realistic case for a complete, straightforward application.

Because the provider can see your company’s trading directly instead of waiting for documents. A merchant cash advance provider looks mainly at your card terminal history, while revenue-based funders often connect to your sales platforms, payment provider and bank account. Wayflyer, for example, asks e-commerce companies to connect platforms such as Shopify or Amazon, their bank accounts and, where relevant, Stripe.

Live data cuts out much of the back-and-forth over bank statements and management accounts. It does not remove the basics: providers still check identity, tax clearance, CRO filings and existing debts, and a split taken from card settlements or a redirected payout account has to be set up before funds are released. Speed also has a price. These products usually cost more than a term loan, so compare the total amount repayableThe full sum a company will pay over the life of a loan or finance agreement, including the amount borrowed, interest and all fees. before choosing the quickest option.

Almost every application in Ireland passes through the same stages. Knowing them helps you see where time is lost.

1. Enquiry: you tell the lender, or a broker, how much your company needs, what for and over what term. Many lenders give an indicative quote at this stage.
2. Documents: the lender asks for filed accounts, management accounts, business bank statements, a tax clearance certificateConfirmation from Revenue that a company's tax affairs are in order. and director ID. Our checklist of documents for a business loan application covers each one.
3. Underwriting: a credit analyst reviews turnover, profit, cash flow, existing debts and the purpose of the loan. Questions at this stage are normal.
4. Credit checks: lenders that search the Central Credit Register (CCR) leave a record of the enquiry. Lenders must check the CCR for applications of €2,000 or more, and many also check directors’ records, court judgmentsA court order that a person or company pays a sum of money. and CROThe State body that registers Irish companies and business names and keeps their public filings, including constitutions, director details, annual returns, financial statements and registered charges. filings.
5. Offer: if approved, the lender issues a written offer setting out the amount, rate, term, fees and any conditions, such as security or a personal guaranteeA legally binding promise by a director or other individual to repay a company's debt if the company cannot..
6. Legal and security: where security is needed, solicitors prepare and review documents such as a debenture or guarantee. A charge must then be registered with the CRO.
7. KYC and AML: the lender confirms the identity of directors and beneficial owners. This often runs alongside underwriting, but missing ID can hold up the final step.
8. Drawdown: once conditions are met and documents signed, the lender releases funds to your company’s bank account.

For a small unsecured loan, stages 3 to 8 can overlap and finish quickly. For a secured loan, stage 6 is often the longest part of the process.

What happens between the offer and drawdown?

An offer usually comes with conditions that must be met before the money moves. Typical ones are signed loan documents, a signed guarantee, a supplier invoice for equipment, a board resolution approving the borrowing, and confirmation that an existing lender has released or consented to security. Read the conditions on the day the offer arrives and start on each one at once, rather than one after another.

A secured loan takes longer because legal work must be completed before the money is released. That can include a debenture over company assets, a fixed charge over equipment, or a personal guarantee from directors, which many lenders want signed after independent legal advice.

Under the Companies Act 2014, a charge created by a company must be filed with the CRO within 21 days of its creation, otherwise it is void against a liquidator or creditors. Priority between charges depends on when the CRO receives the filing, so lenders insist on getting this right. Our comparison of secured vs unsecured business loans explains the different types of security.

Most delays come from a handful of gaps that are easy to fix before you apply:

• No current tax clearance: lenders usually want to see that your company’s tax affairs are in order. Revenue issues a tax clearance certificate through ROS when everything is up to date. If it refuses, it gives reasons, and you must fix the issues and apply again. See our guide to tax clearance for companies.
• Late or missing CRO filings: an annual return filed late costs a €100 late filing fee plus €3 a day, up to €1,200, and a company that files late more than once in five years loses audit exemption. Lenders read late filing as a sign of weak financial control, and accounts more than a year old may not be accepted.
• Out-of-date beneficial ownership details: lenders check who ultimately owns and controls your company as part of their anti-money laundering checks. If the Register of Beneficial Ownership (RBO) does not match your company’s own records, expect questions.
• Unclear bank statements: transfers between connected companies, large cash lodgements, gambling-style transactions or payments to unexplained lenders all prompt queries. A short note explaining any unusual items saves time.
• Old management accounts: if your last filed accounts are months old, lenders want recent management accounts to see current trading.
• Undisclosed debts: a loan found on the CCR that is not on your application creates doubt, even if it was an honest omission.
• Security and guarantee legal work: solicitors on both sides, property or asset valuations and director availability to sign all add days.

You cannot control a lender’s queue, but you can make sure your application never waits on you. Before you apply:

1. Request your company’s CCR report and check that closed loans show as closed. Our guide to checking your company’s CCR report explains how.
2. Confirm your tax clearance is current and have your Tax Clearance Access Number ready.
3. Bring CRO filings and RBO details up to date.
4. Gather six months of business bank statements and your most recent filed and management accounts in one folder.
5. Write one paragraph on what the loan is for and how it will be repaid.
6. Make sure every director who needs to sign, provide ID or give a guarantee is available.
7. Answer lender questions the same day if you can, so your file does not drop back in the queue.

Applying to many lenders at once is not a shortcut. Each lender that searches the CCR leaves a footprint, and a cluster of recent searches can raise questions. It is usually better to narrow down the right lender first.

Not a strict deadline, but there is a rule. Under the Central Bank’s SME Lending Regulations, if a regulated lender has not made a decision on a micro or small enterprise’s credit application within 15 working days, it must tell the borrower why and when it expects to decide. If it needs more information, it must say what and by when.

These rules apply to regulated lenders. Some non-bank providers, including some merchant cash advance providers, may fall outside them depending on how the product is structured. If timing protections matter to you, ask the lender which rules apply.

If a lender says no, ask for the reasons in writing before you apply elsewhere. Fixing the underlying issue first is usually faster than collecting more refusals. If a bank has refused your company, our guide to what to do after a bank refusal covers the next steps.

Unsecured and short-term business loans, working capital loans, merchant cash advance and revenue-based finance are products our lender panel may be able to help with. Tell us what your company needs, and we can tell you which documents to have ready and which lenders on our panel may consider your company, before any lender searches the CCR. We do not give financial advice. Some lenders say they can decide within 24 hours of a complete application; this is not guaranteed. We are paid commission by lenders. We do not charge your company a fee and never ask for payment upfront. 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).