Irish peer-to-peer lending service Linked Finance has hit €5m in loans, claiming to have supported 900 jobs through investment.
The company claims this sum of money has helped 200 businesses across Ireland across numerous sectors.
“Today is a key milestone in our own growth but more importantly in the continuing confidence in peer-to-peer lending in Ireland and we are absolutely delighted to have surpassed the €5m mark in lending,” said Peter O’Mahony, founder of Linked Finance.
“With the economy in growth mode again, companies of all sizes are focusing again on their capital investment. Crucially, they need to move rapidly to avail of opportunities in their markets and traditional lending is simply too slow.
“Linked Finance plans to help over 5,000 SMEs to the tune of €250m in next three years and, based on current economic growth, we have plans to lend at least €30m in 2015.”
The company facilitates peer-to-peer lending for Irish businesses. Responsible business borrowers are vetted as part of the Linked Finance registration process and can access cash-flow from a large pool of potential lenders.
These lenders can then in turn request and earn significant returns on their investment and engage with the businesses they invest in, both as customers and backers.
IT investment image via Shutterstock
