Peer-to-peer lending platform Linked Finance has just funded its 1000th loan for an Irish SME, bringing the total loans made by the company now over €31 million and €2.5 million in interest already repaid to Linked Finance lenders.
Homegrown SMEs who have borrowed successfully on Linked Finance since its launch in 2013 include: Viking Splash Tours, Lolly & Cooks, Murphy’s Ice Cream, Iconic Offices and the Irish Fairy Door Company. Lending levels are accelerating in 2017, with total loans in the first half of 2017 up 243% to €11.4 million.
“This 1000th loan is another important milestone in our development. It’s another step on our journey to make P2P lending as popular in Ireland as it already is in more developed markets like the US and the UK. We’ve come a long way since we funded our first loan in 2013, but really we’re just getting started,” said CEO Niall Dorrian.
“Once a company uses Linked Finance, we quickly become their preferred source of funding. The fast and friendly approach coupled with the affordability and flexibility we offer, mean that businesses have no hesitation in coming back to us the next time they need funding. Despite being a relatively new concept, we’re already seeing many businesses returning to the platform again and again. It’s a great indication that Irish business owners like what we do.”
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