Linked Finance Celebrates €250 Million Milestone in Lending to Irish SMEs

Posted on

Empowering Irish Businesses and Fueling Growth: Setting a New Standard in Alternative Lending

Linked Finance, Ireland’s fastest-growing alternative lending platform has achieved an extraordinary milestone by providing over €250 million in lending to small and medium-sized enterprises (SMEs) throughout every county in the country. 

This remarkable achievement reflects the strong demand for alternative forms of finance in the Irish SME sector and solidifies our decade-long commitment to helping Irish businesses expand and thrive.

Revolutionizing the borrowing experience

With a strong emphasis on speed, simplicity, and customer satisfaction, we have transformed the traditional lending landscape by approving and delivering many deals within a mere 24 hours of receiving the necessary documents.

We have consistently introduced new products and offerings tailored to meet the evolving needs of our borrowers, including the integration of open banking, further simplifying the decision-making process.

Our outstanding growth has served as a testament to the escalating demand for alternative lending solutions within the Irish SME market.

Average loan sizes have doubled to €115,000, reflecting an influx of high-quality applicants, a large percentage of repeat customers, and an impressive customer satisfaction rating of 98%.

Through facilitating more than 3,800 loans, Linked Finance has supported over 2,500 different SMEs, establishing ourselves as a trusted partner in our customer’s success.

The changing face of the Irish banking

In the first half of 2023 alone, we issued over €31.7 million in loans, a staggering 90% increase compared to the same period in 2022.

This year, we are on track to achieve our busiest year yet, with a projected €65 million in loans, representing an impressive average growth rate of 50% over the past three years.

Looking ahead, we have set our sights on growing annual new lending to €100 million by 2025, with exciting new products scheduled for launch in 2024.

“Reaching the €250 million lending milestone reflects the trust and confidence that Irish SMEs have placed in Linked Finance as their preferred lending partner at a time when the 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.”

Opportunities for retail investors

We also provide unique opportunities for retail investors looking to earn market lending rates of return by supporting their local SMEs. By connecting businesses directly with lenders, the platform has bridged the gap between borrowers and investors, fostering a thriving ecosystem that benefits both parties.

Ambitious local businesses across the country have availed of lending through Linked Finance including Almotech Limited, a Galway-based media solutions company who have returned to the platform as a recipient of six business loans.

“Linked Finance exceeded all my expectations when it came to funding my business growth. Their platform is user-friendly, and the application process was straightforward. What impressed me the most was the speed at which I received the funds. Within days, I had the money in my account, allowing me to seize new opportunities. If you’re a business owner seeking fast and reliable financing, Linked Finance is the way to go,” remarked Vivian Dooley, C.E.O of Almotech Ltd.

“Nurturing the growth of Irish SMEs has always been at the heart of Linked Finance’s mission, and reaching this significant lending milestone shows the positive impact that the business is having with both our borrowers and our lenders,” Mr O’Grady said. “New figures from the Central Bank of Ireland show total household savings have reached €152 billion by 2023, yet savers are typically receiving low-level returns. At Linked Finance, we proudly facilitate access to much-needed funding for thousands of businesses, enabling them to innovate, expand, and create jobs, while simultaneously offering retail investors very competitive rates.”

Apply for your business loan today!

The platform remains committed to providing reliable, transparent, and efficient lending services, to support the growth and success of businesses across Ireland. To apply for a business loan of up to €500,000 complete your application, here.