Peer-to-peer lending platform Linked Finance has funded its 1,000th loan for a small or medium sized company here.

Figures published by Linked, which facilitates loans from individuals directly to businesses outside the banking system, show €31m has now been borrowed through the platform.

The company, which was launched in 2013, also said that €2.5m in interest has already been repaid to Linked Finance lenders.

The 1,000th loan saw €100,000 raised for accounting software specialists, Big Red Cloud. The company will spend the money to support increased marketing activity in the year ahead.

Irish companies which have used Linked Finance include Murphy's Ice Cream, Lolly & Cooks, Viking Splash Tours and the Irish Fairy Door Company.

Niall Dorrian, chief executive of Linked Finance, said the "milestone loan" was another step on the company's journey to make P2P lending as popular in Ireland as it already is in more developed markets like the US and the UK. 

"We understand that easy access to finance is vital to the success of ambitious Irish firms like Big Red Cloud," Mr Dorrian said. 

"We also know many great local firms find it too difficult and time-consuming to access credit from traditional sources. We want to help bridge that funding gap and to make P2P lending the ‘go-to’ finance option for any Irish SME with plans to grow," he added.