Woohoo Pay has thousands of lenders willing to fund a business loan for SMEs. These lenders support businesses they believe in, understand and want to see succeed.
Our business loans offer a fast, fair and affordable alternative for financing your plans to run and grow. You can apply for your loan online in minutes.
We’ve supported over 600 businesses access working capital loans, stocking loans and loans for growing their businesses in the last two years, lending over €30m into the Irish economy.
Why not join them and feel the difference working with us?
Woohoo Pay was set up with the purpose of giving SMEs an alternative, faster way to access finance. From 2021, we are providing business loans to hundreds of ambitious SMEs across the country.
SMEs that have benefitted from business finance
Registered members of our P2P investment community
Average business loan size in last 8 months
Whether you need working capital to fulfil a new contract, a short term stocking loan to meet customer demand, or finance to purchase new equipment, Woohoo Pay is here to support you realise your business goals, quick and with no hassle.
We have a range of stocking loans, working capital loans and business growth loans to suit all circumstances.
Government-supported low cost loans
6 month – 5 year terms
Loans from €10,000 – €250,000
Fixed rate from 4.75% p.a.*
Fast working capital
6 month – 3 year terms
Loans from €5000 – €300,000
Fixed rate from 6% p.a*
Flexible Stocking Loans
Typical 6-12 month terms
Loans from €5000 – €300,000
Fixed rate from 6% p.a.*
For tax bills & fees
Typical 6-12 month terms
Loans from €5000 – €300,000
Fixed rate from 6% p.a*
3 month break
3 months payment-free
12 fixed monthly repayments
Loan value up to €100,000
Fixed rate of 10.45% p.a
* The interest rate that will apply to our Credit Guarantee Scheme, Restart, Kickstart and BillPay Loans will depend on the credit grade applied based on your business circumstances, and the term required for the loan.
The minimum amount you can borrow is €5,000. The maximum is €300,000. The loan is at a fixed rate of interest* and the term of the loan is up to 5 years. The loan is repayable in monthly instalments and by direct debit.
The loan should be used to help grow your business. For example, you might use it for:
*Further details on interest rates may be seen in FAQ 4
Any established and creditworthy business, whether it is a limited company, sole trader or business partnership, can apply for a loan on Woohoo Bank.
Some conditions apply. These include:
Our lenders will be ordinary individuals,companies or other organisations. All lenders must hold an Irish bank account. When a lender registers on Woohoo Pay, we check their identity according to the highest industry standards. By doing this, we know exactly who is joining the network.
To ensure you get a fair interest rate on a Woohoo Pay loan, the rate you pay is always determined by our credit evaluation process. The rates available range from 6% to 17.5% depending on the term and the loan grade we assign to your request.
First, register as a borrower on Woohoo Pay. Second, complete our online loan application form. Once you have done this, we will request supporting documentation from you in order to carry out credit and fraud checks using the information you have given us. Your application cannot progress until we have received this documentation.
Then we will decide if we will allow your application to be listed on Woohoo Pay. If you are successful, we will tell you the loan grade we have assigned to your rate and the relevant rate. At that point you can decide if you would like to have your loan request published.
Once your loan request is posted on the site, the bidding process will start.
Once your loan request goes live on the site, bidding will commence. A limit of 14 days is typically placed on each loan request but loans generally fund a lot quicker. You can check out the ‘Live Loans’ section to see how long it has taken other businesses to fund.. Once your loan is fully funded, you can accept the loan and have the funds within 24 hours.
The funds can be used for any of your business needs.
You can get a quote in just a few minutes, and a decision in less than 24 hours. So you can get back to focusing on growing your business, rather than filling out paperwork.
With just one pre-agreed, fixed cost you can plan ahead with confidence; knowing that the repayments will take care of themselves with no penalties or hidden charges. Ever.
Instead of fixed monthly payments you only pay us when your customers pay you. Your repayments are based on an agreed percentage of your future customer card transactions
Contact us today and organise for one of consultants to call to you and explore Flexible finance options.
(Customer service and support)
Co, Cork Ireland info@woohoopay.ie
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You will receive our confirmation in your email about our consultants in your region.
