Bank of Ireland business loans: €1,000 to €120,000 online, and what start-ups have to send

The loans on offer

The secured rate is built from a reference rate, which the bank gave as 1.37% on 15 September 2026, plus a margin that depends on the size of the loan. For loans of €500,000 to €1 million the bank quotes 5.22%.

The bank's own examples: €120,000 over 7 years at 7.02% means 84 monthly payments of €1,809.91, and the cost of credit is €32,032.44. On €10,000 over 3 years the repayment is €308.68 a month and the cost of credit is €1,112.48.

You can try other amounts and terms at Bank of Ireland's 7.02% rate. Both rates are variable and can change, so check Bank of Ireland's business loan page before you apply.

The bank also offers farm loans in the same amounts, invoice finance that advances up to 85% of approved invoices, and insurance premium finance over 6 to 11 months.

What the bank checks

Bank of Ireland says it wants to see that you can pay the loan back comfortably. It lists the criteria it takes into account:

• regular payments into your account, and stable or growing turnover
• that the turnover you state matches what goes through the business account
• that an overdraft, if you have one, is regularly in credit, and for at least 30 days in the year
• that you are up to date with Revenue, suppliers, credit cards and other borrowings
• that enough money is kept in the account to meet cheques and direct debits
• your personal accounts with the bank. For a company, that can include the accounts of its directors and owners

Online and phone applications are decided by an automated system. If you do not agree with the result, you can ask for a member of staff to review it.

Bank of Ireland does not publish a list of sectors it refuses. These checks are the published test.

What you have to send

• Existing customers: a completed application. The bank asks for more only if it needs it.
• New customers: the last 3 years' certified accounts, 6 months of business bank statements, and 6 months of personal bank statements if your personal account is with another bank.
• Start-ups: bank statements where relevant, plus a business plan and a statement of affairs for the owner. Where there is more than one owner or director, the bank may want a statement for each. It sends you a template for the statement of affairs. The business plan can be your own.

No application form is needed for amounts up to €120,000 applied for online or by phone.

For smaller amounts the bank says financial accounts are not always required. You are asked to confirm that your tax affairs are up to date.

If you need the plan written, our pack builds a start-up business plan and month-by-month cashflow from your answers.

How to apply, step by step

1. Decide the amount and the term. Up to €120,000 is the unsecured loan. Above that the loan is secured.
2. Apply online through the bank's eligibility check, or phone 0818 210 614, Monday to Friday, 9am to 5pm. New customers can also call into a branch.
3. Send the documents for your situation: existing customer, new customer or start-up.
4. Wait for the decision. The bank says it aims to answer within 48 hours of receiving all your information, not counting weekends and bank holidays. Loans over €120,000, or loans with security, can take longer.

The bank's lending booklet sets the outer limit. It acknowledges a complete application within 5 working days and commits to a decision within 15 working days, unless it tells you otherwise.

Security, fees and paying early

Under €120,000 you do not usually need to provide security. A limited company may be asked for a personal letter of guarantee from its directors. Signing one makes you personally responsible if the company cannot repay.

There is no arrangement fee. Where the bank takes security over property, legal and valuation fees can apply.

You can make extra payments or clear the loan early without penalty. The bank does not offer top-ups. You apply for a new loan instead.

The rate is variable, so the cost of your repayments can rise.

If the bank says no

A refusal comes in writing, with the reasons. The bank says a refusal does not currently harm your credit rating.

You can appeal on the bank's Business Credit Appeal Form within 21 working days. Two independent reviewers look at it, and the bank says it answers within 15 working days. You can also appeal a lower amount, a shorter term or conditions you cannot accept.

After that, you can take a Bank of Ireland refusal to the independent reviewer. With your consent, the bank may refer a suitable case to Microfinance Ireland, the lender for very small firms the banks decline.

We take no commission or payment from any lender. This page is information only, not financial advice.

Common questions