Any business (limited company, sole trader, partnership) that takes some, a lot or all of their revenue through debit/credit card, by card machine or online using a payments processor. The business must be registered in the Republic of Ireland, trading for 9 months minimum and tax compliant with a tax clearance certificate. If a tax clearance certificate is not available, a letter from your accountant stating the tax status will also be accepted.
We specialise in business loans only but you could check out An Post’s personal loans here: https://www.gridfinance.ie/an-post/
Loans are available up to €100,000. The amount you are eligible for will depend on how much revenue you take by debit/credit card. To calculate the loan you could be eligible for, use our handy calculator on the home page. We can consider loans above €100,000, talk to a GRID Team member to see if you are eligible.
GRID business loans are designed to be short-medium term finance, with loan terms up to 18 months. However, many of our customers often top up their loans once they have paid down 70%. This means that you can use it as a rolling credit facility.
We understand that businesses can be structured in many ways. The GRID Team will aim to design a repayment structure to suit your own situation.
We know that your time is limited which is why we have made it easy for you to apply 24/7 from the comfort of your own office, premises or home. Apply online by completing some simple information about your business and uploading easy to access supporting documents.
The application itself takes 3 minutes to complete online. At minimum you will be asked to upload 6 months bank statements, 12 months merchant statements and a tax clearance cert (or letter from your accountant). For larger loans, we may also require audited financial accounts and management accounts.
When our team have a complete application, approval can be given within 24 hours. To complete the online loan documentation and to set up your flexible repayments, this may take 3 – 7 workings days, after which we will transfer your funds to your nominated bank account.
We have a high approval rate because our approval decisions are based on the strength of the revenue that you are collecting by debit/credit card, your time trading as a business and the tax status of the business. If a tax clearance cert is not available, a letter from your accountant stating the tax status will also be accepted.
An Express Application is a very quick an easy application process for our GRID Express Loans.
Express Loan Amount
You can apply for up to 100% of your average monthly debit/credit card takings.
Express Loan Terms
GRID Express 3: three month fixed term
GRID Express 6: six month fixed term
GRID Express 9: nine month fixed term
GRID Express 12: twelve month fixed term
- 12 Months Merchant Statements
- 6 Months Bank Statements
- Tax Clearance Status
A Max Application is a full and easy application process for our GRID Max Loans.
Max Loan Amount
You can apply for up to 150% of your average monthly debit/credit card takings.
Max Loan Term
GRID Max: three to eighteen months term
- 12 Months Merchant Statements
- 6 Months Bank Statements
- Tax Clearance Status
- Financial Audited Accounts
- Management Accounts
Yes, you can have more than one loan facility with GRID. With an additional application, the GRID Team will assess all existing facilities and debt before approving a new loan.
The advantage of the GRID loan is that your repayments are flexible and are made using a small portion of your daily debit/credit card takings. These small portion repayments are collected directly from your merchant services account. We do this by creating a smart link between your merchant services account and the GRID Repayments Account.
How is the smart link set up?
We will provide you with a dedicated digital account that will become your settlement account for the duration of your loan. We will provide you with what you need to instruct your merchant services provider to add your digital account to their system.
Where does the digital account come from?
GRID have partnered with Fire Financial Services to provide GRID customers with a free digital account. Fire Financial Services is a digital payments processor that is regulated by the Central Bank. To learn more about Fire Financial Services and our partnership, click here: https://www.fire.com/grid-finance/
What happens to the smart link when my loan has been repaid?
Many customers keep the smart link in place so that they can renew their loan, draw down further funds and continue to make flexible repayments. If you do not require further funds and do not wish to renew your loan, the smart link can be removed from your merchant services account and your settlements will resume as normal.
Repayments will begin the same day that the funds are transferred to your nominated bank account.
GRID’s business loans are designed so that you can make flexible daily repayments that are calculated as a portion of how much revenue you collect by debit/credit card. Often referred to as a ‘batch rate’, this is the portion that is used to repay your loan. For instance, if your batch rate is set to 8% (we will set this at the beginning of your loan) and your daily settlement from your merchant services provider is €1000, then your loan repayment on that day will be €80 (8% of €1000). If the next day your settlement is €1500 then your loan repayment will be €120 (8% of €1500). Your batch rate is not the interest on your loan. It is the portion of your loan that you repay each day.
There are no early repayment fees on our products. However, you may be eligible for a refund on your interest if you repay early.
There are no hidden fees on a GRID business loan. The cost of your loan is made up of two items.
The first item is the GRID Arrangement Fee, this is fixed at €6 per €100, for instance a €10,000 would translate to a GRID Arrangement Fee of €600 (excl. VAT).
The second item is the Capital Provider Fee, this will be determined at application stage, it is influenced by the status of your business with fees starting at €9 per €100, for instance a €10,000 would translate to a Capital Provider Fee of €900 (no VAT applied). This fee is often expressed like this: 1.09. Capital Provider Fees can go to €15 per €100 (or 1.15), this pricing would reflect a business that has a higher risk profile.
A rebate or refund on the Capital Provider Fee is available for GRID Express Loans that are repaid early.
For instance, if you have a GRID Express 9 Loan which is a nine month fixed term and you repaid your loan in six and a half months, the Capital Provider Fees for your 8th and 9th month would be refunded.
If you have a GRID Express 6 Loan which is six month term and you repaid your loan in four and a half months, the Capital Provider Fees for your 6th month would be refunded.
A maximum of 2 months refund is available for GRID Express Loans and only applies to the Capital Provider Fee.
Existing customer FAQs
Accessing your account for the first time? Submit your access request to our Support Team here:
To request a new password, click here:
To generate a repayment statement, simply login to your GRID account, click on the Reports tab on the left-hand side of your dashboard and download your statement.
To check your balance or to generate a transaction report, simply login to your GRID account, click on the Reports tab on the left-hand side of your dashboard and download your report.
The net funds, after your loan repayment is made, are automatically batched and transmitted to your designated bank account. These payments should be received by you within half a business day of when they are received by GRID. To see your transactions simply login to your GRID account, click on the Reports tab on the left-hand side of your dashboard.
If your funds have not settled to your account in the time that you anticipated, please check with your merchant service provider for any potential interruptions.
If you have or expect to miss a term loan repayment, or wish to discuss your account in arrears please email us at email@example.com
If none of the above suggestions address your query, please submit your query to the Support Team here: