borrower FAqs

FAQs relating to business Term Loan options

business loans

Any established and creditworthy business, whether it is a limited company, sole trader or business partnership, can apply for a loan on Linked Finance.

Some conditions apply. These include:

  1. If you are a sole trader, you must be a permanent resident of Ireland.

  2. If your business is a partnership, it must have a permanent place of business in Ireland and at least half of its partners must be permanent residents of Ireland.

  3. If your business is a limited company, it must be registered with the Companies Registration Office (CRO).

  4. It must have filed accounts with the CRO.

  5. Your business must have been actively trading for at least the past two years.

  6. Annual turnover in excess of €100,000.
  7. Your business must meet our minimum credit risk and fraud criteria.

  8. In special circumstances, we can support younger companies who have demonstrated strong growth potential over a shorter trading history but this is at Linked Finance’s sole discretion.

The minimum amount you can borrow is €5,000. The maximum is €500,000. 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:

  • improving working capital
  • asset finance (such as the purchase of new machinery, vehicles or information technology)
  • expansion capital (which could involve employing a new salesperson to help grow your business)

To ensure you get a fair interest rate on a Linked Finance 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.

Our lenders will be ordinary individuals, companies or other organisations. In order to lend on Linked Finance, lenders will need to have registered on the platform and deposited funds.

Once you provide the documents required to complete your application, we typically provide a credit decision within one working day. If approved and you are happy to accept the loan offer, we can publish your loan request on the platform and have the funds ready for drawdown within 24 hours.

Applying for a business loan

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.

If your application is successful, we will provide you with an official loan offer which will show the grade, interest rate, monthly repayments and fees. At that point, you can decide if you would like to have your loan request published on the platform.

If you decide to proceed, you are committing to taking the loan and paying the fees, unless your loan request fails to fund.

Once your loan request is posted on the site, the funding process will commence.

We need the following documents from you:

  1. A clear copy of your passport or driving licence

  2. Any one of the following:

    • an original utility bill

    • an original document issued by the Revenue Commissioners (for example, a PAYE tax certificate, a P60, a C2 cert and so on)

    • an original car or home insurance certificate

    • an original document issued by the Department of Social & Family Affairs

    • an original financial statement (for example, a credit card statement)

    • Anti-money laundering documentation must be dated within 90 of your loan application

We need these documents from your business:

  1. Company bank statements for the past twelve months.

  2. Your most recent set of ‘signed-off’ accounts

  3. Tax clearance information

Occasionally, we may request additional information, such as management accounts or proof of contracts, in order to support your loan application. If required, these will be requested, in a clear and timely manner.

Open banking allows borrowers to share their bank account information and transaction data with Linked Finance to assist in assessing an application. Instead of having to manually send bank statements, borrowers can now grant Linked Finance access to their bank account data to allow us to provide finance and carry out the necessary credit evaluations in a faster and more efficient manner.

Plaid is a third party that Linked Finance is using to offer Open Banking services. Plaid is a fully licensed provider of Open Banking services in the EU and their license allows them to act as an Open Banking service provider for platforms such as Linked Finance. We chose to partner with Plaid due to its track record and best-in-class encryption protocols.

Transaction data for the past 365 days will be shared with Plaid and Linked Finance. Linked Finance also has the option to refresh this data for 90 days. After 90 days, the customer will need to re-authorise the Open Banking connection.

If you do not wish to share your account data via open banking, simply select the ‘Upload Manually’ option when uploading the documents required to assess your application.

We comply strictly with anti-money-laundering (AML) and know your customer (KYC) legislative guidelines, as outlined in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 adopted by the Central Bank of Ireland.

AML guidelines detail the legal controls that require us to prevent, detect and report money-laundering activities. The KYC guidelines refer to the due diligence activities we must carry out to ensure that our clients are exactly who they say they are and do exactly what they say they do.

As we must comply with these guidelines, we need you to give us copies of a photographic ID (ideally your passport or driving licence) and original proof of address documents, as well as documentation relating to your business. Documents related to AML must be dated within 90 days of your loan application.

Using the information you give us in your application, we will assess your application based on these guidelines. We will only accept a loan application after we have carried out comprehensive credit and identity checks and validated all your documents.


Once your loan becomes fully funded, you will receive an electronic copy of your loan contract. Read the loan contract carefully and if you are happy to, accept the terms by electronically signing the document.

Once your loan is fully funded, you have five working days to complete the loan contract.

If your loan request has not been fully funded within the time limit but has achieved at least 90% of the final requested value, we can still proceed to fund your loan request for that amount achieved at the end of the bidding period. If your loan request has not achieved at least 90% funding within the time limit, we will remove it from Linked Finance and all bids will be returned to lenders.

Yes, you can submit a new loan request once the first three* monthly repayments have been met on your current loan. Each individual loan request will undergo a full credit assessment prior to an approval decision. 

*Linked Finance reserves the right to vary this policy in exceptional circumstances.

fees & repayments

To apply for a loan with Linked Finance, you must pay an application fee of €125.

If your loan is successfully funded, we will also charge you a completion fee based on the total loan amount.

This is to cover the costs of facilitating the borrowing process. We will deduct these fees from the loan before we transfer the funds to you. For more information on the fees we charge, contact our account management team now on 01 906 0300.

If you accept a loan offer but choose not to take the loan after it has been fully funded, you will still be invoiced for both the application fee and completion fee as detailed in the loan offer.

Fees also apply to missed payments. These fees are specified in your loan contract.

When you are approved for credit, you will be offered a loan at an annualised percentage rate. This is the standard industry way that interest rates are displayed.

Repayments and interest are calculated using amortisation. In simple terms, this means that interest is charged each month and only on the principal outstanding.

Here’s an example.

  • You borrow €10,000 at 8.5% on a 12-month fixed rate loan.

  • If the loan was repaid in one lump sum at the end of the term, the interest charged would be 8.5% or €850.

  • Because, however, the loan is being paid back on a monthly basis and the interest is charged on a reducing balance, the total interest charged over the 12 months would be approximately €466 and not €850.

When you receive a loan offer, your account manager will show you the rate, monthly repayments, interest, and fees. You can then decide if you would like to proceed.

Your loan contract specifies the monthly repayments payable to each lender. Each month we collect the repayments from your bank or building society account by direct debit. It is up to you to ensure that you have sufficient funds in your account to make the repayments.

Your repayments generally start within 30 days of your loan request funding. The exact date is specified in your loan contract.

Please email immediately if you think you may be late making a repayment

If you fail to make a payment or only make a part-payment, we will contact you and ask you to explain why you missed the payment. Three days later, we will try to collect the outstanding payment a second time. If this fails, we may instruct a debt collection agency to try to collect the amount on behalf of our lenders.

Continued missed payments will result in further debt recovery actions, up to and including formal legal proceedings.

Yes, you can repay a loan early at any time at no extra cost. We don’t penalise borrowers who want to pay off the loan early. You just pay the outstanding principal and the interest accrued until the end of the month in which the loan is repaid.

My account

You can view the status of your loan at any time by logging into your Linked Finance account and clicking into My Account. To login please click here

Provided you have paid off your loan fully, you may close your Linked Finance account at any time by contacting. Please email your request to