Linked Finance issues €31.7m in loans in 2023

Aims to grow annual new lending to €100m by 2025

Trade

Image: Linked Finance

Linked Finance has issued more than €31.7 million in loans in the first half of this year. This is almost 90% more than the €16.8 million in loans it issued during the same period last year.

Since its launch in 2013, Linked Finance has provided more than €250 million in lending to small and medium-sized enterprises (SMEs) across the country over the past ten years.

Linked Finance has forecast €65 million in loans for 2023, representing an average growth of 50% in each of the last three years. It aims to grow annual new lending to €100 million by 2025, with new products launching in 2024.

It said average loan sizes have doubled to €115,000, reflecting higher quality applicants with a large percentage of return customers and a customer satisfaction rating of 98%.

In total, Linked Finance has lent to over 2,500 different SMEs through the facilitation of more than 3,800 loans.

“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 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.”

Linked Finance provides the unique benefit of retail investors supporting Irish SMEs and earning market leading rates of return. By connecting businesses directly with lenders, the platform has bridged the gap between borrowers and investors, fostering a thriving ecosystem that benefits both parties.

TechCentral Reporters

Read More: Linked Finance loans SMEs