Non-bank lender Linked Finance said today that it recently passed the milestone of lending over €300m since its launch in 2013.
Linked Finance had a record year last year, lending over €59m to almost 600 Irish SME businesses.
More than 4,200 SMEs have received funds from Linked Finance since 2013 as it continues to play a vital role in driving economic growth and empowering SMEs nationwide.
Further growth is also anticipated this year, and Linked Finance is forecasting total lending of €80m for 2024.
Companies that have raised funding with Linked Finance in the past include the Rolling Donut, Kokoro Sushi Bento, Murphy's Ice Cream, and the Irish Fairy Door Company.
Linked Finance said today that it has noted a significant growth in loan sizes, with the average loan size increasing from €18,000 in 2013 to €115,000 this year.
"This trend reflects the growing confidence of SMEs in leveraging larger funding amounts to fuel their growth and expansion initiatives," Linked Finance said.
As part of its commitment to providing innovative financial solutions, Linked Finance has partnered with the Strategic Banking Corporation of Ireland (SBCI) to launch the Ukraine Credit Guarantee Scheme.
Through this partnership, Linked Finance will lend €50m to SMEs across Ireland at discounted rates allowing eligible customers affected by the economic consequences of the conflict in Ukraine access to unsecured loans of up to €250,000, at a discount of 20%.
Linked Finance also recently secured authorisation from the Central Bank under the new European Union regulations for crowdfunding providers. This accreditation adds an additional layer of security for retail investors who are supporting SMEs in the Irish market.
Niall O'Grady, CEO of Linked Finance, said that surpassing the milestone of €300m in lending is a testament to the resilience and innovation of Irish SMEs, as well as the trust and confidence placed in Linked Finance as their preferred lending partner.
"Passing this significant milestone for the business, along with achieving regulation by the Central Bank of Ireland, has also made Linked Finance an even more trusted option for investors seeking a place where they can connect with growing and established Irish SMEs to put their funds to work and earn excellent returns," Mr O'Grady said.
"We are proud to play a pivotal role in supporting the growth and success of businesses across Ireland, and we remain committed to providing accessible, flexible, and transparent financing solutions to fuel the ambitions of Irish businesses," he added.
