Peer-to-peer lending platform Linked Finance has launched a new type of account that allows holders of self-administered pensions to lend to SMEs part of their pension investment portfolio.

These accounts have been developed with the country's leading pension trustee companies.

They meet the typical requirements associated with the most common self-managed pension products on the Irish market.

Linked Finance's chief executive Niall Dorrian said these new pension accounts will allow people to make lending to local SMEs part of their planning for retirement while availing of the tax benefits associated with investing via a pension product. 

"These accounts are a valuable development for the platform and have real potential to boost liquidity; ultimately increasing access to fast, fair and affordable finance for Irish SMEs," he added.

Linked Finance funded its 1,000th loan for a small or medium sized company and raised €2m in new equity funding during the last 12 months.