Transcript Slide 1
Bank of Ireland
Enabling Enterprise
from Start up through to
Growth & Development
Bank of Ireland is regulated by the Central Bank of Ireland
Information Classification: Green
Welcome…We Want to Support You
Introduction
– Sean Byerley B.Sc. Ed, HDip. Software Design & Development,
QFA
– Manager of Bank of Ireland, 125 O’Connell Street Branch in
Limerick City
Objectives of this Session
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Why Bank of Ireland is Different
BOI’s Commitment to SME’s
Support for Start Up Business
Services & Supports for Growing
Strong
Business
Sector
expertise
– How to Secure Funding with BOI
– Personal Banking Support
Information Classification: Green
Why Bank of Ireland?
Secure, Strongly Capitalised, Privately Owned Bank
– Irish Tax Payer paid back with Profit
– Access to Funding
– Profitable
Support & Commitment to the Economy
– 4,000 Applications for Credit Facilities monthly
– 85% Approval Rate
Countrywide Relationship Structure
– 2,000 Customer Meetings a Week
– 150,000 SME and Agri Customers
– Largest Banking Network in Ireland
Information Classification: Green
Why Bank of Ireland?
Service
– 24 Hour Promise on New Credit Facilities including
Mortgages
– Range of Funding Options available to your business
Support for Your Business
– Enterprise Support Programme
– Sector Expertise
– Range of Product and Services
– Very Strong Online Presence
• Twitter
{@bankofireland}
• Facebook
{Bank of Ireland}
• AllAboutBusiness
{www.allaboutbusiness.ie}
Information Classification: Green
Bank of Ireland Business Banking –
Our Strategy
Our Goal is to be the Number 1 Business Bank in Ireland
We are determined to...
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Grow our SME customer base in Ireland
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Provide high quality & dedicated relationship management
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Make credit available to viable businesses across all sectors
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Remain firmly committed to supporting customers in
financial difficulty
Lending criteria, terms & conditions apply
Support for Start Up’s
Initial-Turn Your Start Up Weakness into A Strength with BOI
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Sounding Board for Proof of Concept
Business Plan Review
Help with Correct Corporate Structure
Account Opening
• Business Start Up Package
– Cashflow Management Guidance
• Small Business Loan (Secured/Unsecured)
• Business Loans/Overdraft
– Flexible Repayment Options available for Loans
• Visa Business Credit Cards (Up to 37 days free Credit)
– Relationship/Network Advice & Marketing
– Ease of Banking
– Business On Line and Banking 365
Information Classification: Green
Supports for Business
Develop-Products and Services to Support Your Enterprise
– Day to Day Banking Needs
– Growing your Wealth
• Deposits and Investments tailored for Growth and Access
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Planning for Retirement
Wealth Extraction
Protecting Your Business
Insuring for the Future
Succession Planning
Commercial Foreign Exchange
• Treasury Experts for One to One Support and Advice
– Business On Line
• Control your account 24/7 365 days a year
Information Classification: Green
Bank of Ireland is committed to lending to
Small and Medium Sized Enterprises
We have met the lending approval commitment of €4bn to the SME
sector in 2013 – commitment for 2014 €4bn
With average approval rates in 2013 at 85%, we have credit available
and we want to lend
1,000 SME Loan Application per Week
We seek to make the credit application process as straightforward as
possible
We aim to provide viable businesses with
appropriate credit facilities
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The Key Elements of Securing Credit
1.The Business Plan
Purpose and Use
Content
2.Credit Applications
4.Security
Why it is needed
Types of Security
Key Questions - Promoter
& Purpose
Information Required and
why
3.Financials and
Repayment Capacity
6.Supports for
Business
5.The Decision and
Appeals Process
Balance Sheet
Profit and Loss Account
Cashflow Statement
Cashflow Forecast
Working Capital
Projections
Appeal
Credit Review Office
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Products and Services
Seed & Venture Capital Funds
County Enterprise Boards
All About Business
Government Incentives
Microfinance
Supports for Business – Microfinance and CGS
Microfinance Ireland
– Funded by the Government to provide loans to newly established and growing
micro enterprises across all industry sectors that do not meet the conventional risk
criteria applied by banks.
Eligible Criteria:
- They must have a turnover of less than €2million
- Employ less than 10 staff members
- Be seeking less than €25K
Credit Guarantee Scheme
– Purpose of the scheme is to encourage additional lending to SMEs
– Not a substitute for conventional lending that will otherwise have taken place.
Eligibility Criteria:
– Viable SMEs that can demonstrate repayment capacity, but which do not fully
meet the Bank’s credit policy and have been declined due to either:
• Insufficient security for the new/increased lending, or
• Aspects of the SME sector, target market or business model which are
deemed to be high risk under the Bank’s lending criteria
An annual 2% premium is paid to the Government by the borrower for availing of the scheme
Support for You Personally
Day to Day Banking
New Current Account/Simple Switching Process
Banking 365/Mobile App
Service
Your Borrowing
Mortgage Offer – 1% of Mortgage Amount
24 Hour Promise
One Stop Shop for Home Insurance, Mortgage
Protection and Family Protection
Your Savings
Flexible Saving and Deposit Options taking into
account your access, security and growth
Your Protection from the Unexpected
Income Protection/Family LifeCover
Information Classification: Green
Bank of Ireland and Your Business
The Next Steps:
Talk to us – Arrange a meeting one to one
We want to develop a long term banking relationship with you
We have a full range of business support services available to your
business and will ensure that all of your needs are met
We want to provide all viable businesses with suitable credit facilities
– adequate funding is available to support all viable and sustainable
businesses
We are committed to supporting customers in or facing financial
difficulty
We are here to support your business and build
relationships now and for the future
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Contact Details
Thank you for giving us this opportunity to meet with you today
Sean Byerley
Flagship Branch Manager
Bank of Ireland 125 O’Connell St.
P 076 62 43546
E [email protected]
Roisin Crotty
Senior Sales Manager
Bank of Ireland 125 O’Connell St.
P 076 62 43537
E [email protected]