Linked Finance passes €300m lending milestone
Irish alternative lending platform Linked Finance has exceeded €300m (£255m) of lending since its launch in 2013.
The announcement follows a record year in 2023, lending more than €59m to almost 600 Irish small- and medium-sized enterprises (SMEs).
Linked Finance has funded more than 4,200 SMEs since its launch in 2013. With demand in the market strong, it is expecting further growth this year, forecasting total lending of €80m in 2024.
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Linked Finance’s average loan size has increased from €18,000 in 2013 to €115,000 this year.
“Surpassing the milestone of €300m in lending is a testament to the resilience and innovation of Irish SMEs, as well as the trust and confidence placed in Linked Finance as their preferred lending partner,” said Linked Finance chief executive Niall O’Grady (pictured).
“Passing this significant milestone for the business, along with achieving regulation by the Central Bank of Ireland, has also made Linked Finance an even more trusted option for investors seeking a place where they can connect with growing and established Irish SMEs to put their funds to work and earn excellent returns.
“We are proud to play a pivotal role in supporting the growth and success of businesses across Ireland, and we remain committed to providing accessible, flexible, and transparent financing solutions to fuel the ambitions of Irish businesses.”
Retail investors have earned more than €25m in interest and typically earn annualised returns of up to eight per cent across a diversified portfolio on the platform.
Notable companies that have raised funding with Linked Finance in the past include the Rolling Donut, Kokoro Sushi Bento, Murphy’s Ice Cream, and the Irish Fairy Door Company.
Read more: Linked Finance joins Ukraine Credit Guarantee Scheme
Last year, Linked Finance experienced significant demand across various sectors, with the top industries seeking loans including wholesale and retail, construction, manufacturing, and the hotel and hospitality sector.
Linked Finance recently partnered with the Strategic Banking Corporation of Ireland (SBCI) to launch the Ukraine Credit Guarantee Scheme.
Through this partnership, Linked Finance will lend €50m to SMEs across Ireland at discounted rates allowing eligible customers affected by the economic consequences of the conflict in Ukraine access to unsecured loans of up to €250,000, at a discount of 20 per cent.
Linked Finance has recently secured authorisation from the Central Bank of Ireland under the new European Union regulations for crowdfunding providers.
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