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Frequently Asked Questions

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On this page you can read the 14 most frequently asked questions of us regarding commercial finance. We hope this helps you understand our process a little more and how we do all we can to deliver the service you expect. If you have a question that is not listed below or if the answer provided does not fully address your concern, simply give us a call on 071 9310137, where a member of our team will happily assist you.

What do I have to do?

Complete our online application form or call 071 9310137.
Vendor Finance work with a panel of 13 lenders to source finance options for you. Essentially, using the information you provide to us on your enquiry form, we match you with the lender that best suits your needs.

How much can I borrow?

Minimum of €5,000. No upper limit.
The minimum borrowing amount across all our lenders is €5,000 and is subject to current lender criteria.

Do I need a deposit?

No
100% finance can be arranged through some of our lenders, however a standard 10% deposit is more the norm

How long does it take to get a decision?

4 Hours
Depending on the lender used, a decision can be expected anywhere from 4 hours to 24 hours. Sometimes it takes a little longer than this and sometimes a decision can be returned more quickly.

Will my credit history be checked?

Yes
In assessing your finance application, our lenders will run a credit check through the Irish Credit Bureau (ICB).From October 1, 2019, this information will be requested from the Central Credit Register (CCR).

If I have a poor credit history can I get a loan?

Yes, quite possibly.
We work with a number of lenders who will accept applications from customers with impaired credit histories. For more information, simply call us on 071 9310137 for further details.

Does the age of the asset matter?

Yes
Generally speaking, older assets will have shorter loan terms and newer assets longer loan terms. Again, eachlender has their own credit policy in place relating to this and we will advise you of your finance term & options once we have received your application.

Can I buy an asset privately without using a supplier?

No
None of the lenders on our panel currently offer finance for private sales at this time

Do Vendor Finance charge me a fee?

No
Vendor Finance receive a commission directly from the lender for arranging the finance on their behalf.

Can I repay the loan early?

Yes
Each lender has different rules regarding early repayments, and we are more than happy to discuss these with you before you draw down your finance

Can I use any supplier?

Yes
We work with many suppliers across Ireland and the U.K. and continue to take on new suppliers once they have been pre-approved and verified by our lenders.

Are there any legal or compliance questions?

Yes
As an Authorised Credit Intermediary, Vendor Finance complies with all Central Bank and Data Protection requirements including verification of your Identity and address. Please refer to our Privacy Notice and Terms of Business for more information on how we do this.

Should I use Vendor Finance?

Yes
Our many satisfied customers say that our award-winning, friendly service and expertise, combined with our flexible lending partners, saved them both time and money by finding the best finance option for them, without any fuss or stress.

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