Linked Fi­nance se­cures 1,000th loan for SMEs

Irish Independent - Business Week - - BUSINESSWEEK - John Mulligan

LINKED Fi­nance, the Ir­ish peer-to-peer lend­ing plat­form, has just funded its 1000th loan for an Ir­ish SME, with to­tal loans made by the com­pany now over €31m. In­ter­est paid to Linked Fi­nance lenders now to­tals €2.5m.

The 1,000th loan saw ac­count­ing soft­ware firm Big Red Cloud raise €100,000 to sup­port its mar­ket­ing ac­tiv­ity.

Among the Ir­ish SMEs that have bor­rowed suc­cess­fully on Linked Fi­nance since its launch in 2013 are Vik­ing Splash Tours, Mur­phy’s Ice Cream, and the Ir­ish Fairy Door Com­pany.

Lend­ing lev­els are ac­cel­er­at­ing in 2017, with to­tal loans in the first half of 2017 up 243pc to €11.4m, the firm said.

Linked Fi­nance said that lend­ing via the plat­form has ef­fec­tively dou­bled each year since its launch, and that it now has more than 16,000 reg­is­tered users, mostly or­di­nary mem­bers of the Ir­ish pub­lic.

Linked Fi­nance plans to con­tinue its growth tra­jec­tory and aims to make peer-to-peer lend­ing a “first choice” source of fund­ing among even more Ir­ish SMEs, it said.

Among the cur­rent lend­ing of­fers on the plat­form is Gal­way-based com­pany ShareRidge, a con­struc­tion com­pany that spe­cialises in pipe re­place­ment tech­nol­ogy and civil en­gi­neer­ing.

It’s rais­ing €220,000, and says that it has an­nual turnover of €11m. It em­ploys 43 peo­ple.

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