Linked Finance: Fuelling the Growth of Irish SMEs
As traditional banks tighten their purse strings, Linked Finance has emerged as an effective and efficient source of business finance, offering accessible financing solutions to growing SMEs. Over the last decade, Linked Finance has established itself as
Since inception in 2013, Linked Finance has provided valuable financing to nearly 3,000 SMEs, contributing over €260 million in funds. This year stands as a testament to its unwavering commitment, to provide over €60 million to more than 600 Irish SMEs.
LANDMARK YEAR
In 2023, Linked Finance achieved the remarkable milestone of extending €250 million in loans to Irish SMEs. This achievement reflects the strong demand for alternative forms of finance in the Irish SME sector and solidifies Linked Finance’s decade-long commitment to helping Irish businesses expand and thrive.
“Reaching the €250m lending milestone reflects the trust and confidence that Irish SMEs have placed in Linked Finance as their preferred lending partner at a time when competition in the banking sector is decreasing,” said Niall O’Grady, CEO of Linked Finance. “With a strong focus on customer satisfaction and an outstanding team, the platform has built a reputation for providing fast and flexible financing options to businesses across a wide range of sectors. Our customer surveys show customer satisfaction ratings of 98% for this year, which ensures our customers return to the platform.”
BANKING DISILLUSION
Linked Finance has experienced a meteoric rise in response to the increased appetite from SMEs looking for alternative avenues of financing as they turn away from the traditional banking sector. Irish SMEs have increasingly become disillusioned with traditional banking, due not only to the oftentimes cumbersome and difficult loan processes but also their declining willingness to lend to small businesses.
“The amount of credit being extended to Irish-resident SMEs has been declining for well over a decade, with outstanding credit falling from €57.7bn in 2010 to just €18.3bn earlier this year. Ireland’s banks are simply not lending,” David McWilliams noted in The Irish Times in August. “The small- and medium-sized sector, the entrepreneurial heartbeat of the economy, is squeezed for lack of credit. It is quite clear that the existing Irish small business sector gave up on the banks quite some time ago.”
Linked Finance is positioned perfectly to bridge this gap between the lack of funding on offer from traditional banks and the need for efficient financing that Irish SMEs deserve.
RECOGNISED EXCELLENCE
Following its historic €250 million lending milestone, Linked Finance ascended to the ranks of the global spotlight with its inclusion among the 2023 Global Top 200 Fintechs by CNBC News. This prestigious inclusion positions it alongside industry giants like Stripe, Revolut, and PayPal.
Linked Finance also secured the Best Fintech Lending Solution Award at the prestigious National Fintech Awards 2023 to acknowledge its commitment to leveraging technology to reshape lending solutions in the Irish market.
TAILORED LOAN OPTIONS
Linked Finance understands the needs of SMEs and offers tailored financial products. Term Loans are perfect for business expansion, equipment investments, or cash flow optimization, and the BillPay option empowers you to manage cash flow efficiently by spreading large, one-off payments over the next 12 months. In tandem with dedicated account managers, businesses can build each loan to suit their unique needs and receive funding in as little as 24 hours.
To apply, visit linkedfinance.com