Linked Finance is to offer low-cost loans of €50m to SMEs across Ireland in partnership with the Strategic Banking Corporation of Ireland (SBCI).
The lender said businesses that have seen costs rise by over 10% because of the conflict in Ukraine will be eligible to receive loans at a discount of 20%.
The Ukraine Credit Guarantee Scheme (UCGS) allows eligible customers to receive working capital loans up to €250,000, with terms between one to five years.
"This partnership with the SBCI is a hugely positive development for the business and is a stamp of approval in the recognition of the important role that alternative lending has to play as a source of funding to help grow the SME sector in Ireland," said Niall O'Grady, CEO of Linked Finance.
"Linked Finance understands the unique challenges that geopolitical and supply-chain interruptions pose to SMEs and the fast, secure and effective financing it requires to adapt during challenging times," he added.
There are now 17 finance providers under the scheme, following the addition of Linked Finance.
"This expansion will further facilitate Irish businesses’ access to funds for working capital or investment," said June Butler, CEO of SBCI.
"Today’s announcement demonstrates how we are working with a wide range of finance providers to support Irish businesses that are looking for the finance they need to invest and grow and deal with the challenges and uncertainties they face," she added.
