The Linked Finance team winning the Best Fintech Lending Solution Award at the National Fintech Awards 2023
In the dynamic landscape of Ireland’s economy, SMEs are essential contributors, driving growth and innovation. Filling the void left by traditional banks tightening their financial grip, Linked Finance has emerged as a powerhouse in alternative lending with accessible and efficient financing solutions.
Established in 2013, the company has solidified its position as Ireland’s premier peer-to-peer lender, extending unsecured loans of up to €500,000 and providing vital financial support to nearly 4,000 Irish SMEs, injecting over €280m into the Irish business ecosystem. In 2023 it demonstrated its unwavering commitment by disbursing €59m to over 600 Irish SMEs.
“Reaching the €280m lending milestone reflects the trust and confidence that Irish SMEs have placed in Linked Finance as their preferred lending partner at a time when competition in the banking sector is decreasing,” commented CEO Niall O’Grady. “Our customer surveys show customer satisfaction ratings of 98% for this year, which ensures our customers return to the platform.”
Meeting the Growing Need for Alternatives
Due not only to the cumbersome and difficult loan processes using traditional routes, but also their declining willingness to lend to small businesses, SMEs are seeking alternative funding sources. O’Grady continues: “In a piece published in the Irish Times last August, David McWilliams pointed out that – ‘The amount of credit being extended to Irish-resident SMEs has been declining for well over a decade, with outstanding credit falling from €57.7bn in 2010 to just €18.3bn earlier this year. Ireland’s banks are simply not lending’. Linked Finance is perfectly positioned to bridge this gap between the lack of funding on offer from traditional banks and the need for fast and efficient financing that Irish SMEs deserve”.
National and International Recognition
Linked Finance gained global acclaim by being named among the 2023 Global Top 200 Fintechs by CNBC News. This recognition places the platform in esteemed company alongside industry giants like Stripe, Revolut and PayPal. Additionally, it earned the Best Fintech Lending Solution Award at the National Fintech Awards 2023, highlighting its dedication to leveraging technology to reshape lending solutions in the Irish market.
Loan Options Tailored for You
Understanding the diverse financial needs of SMEs, Linked Finance offers tailored financial products. Term Loans are perfect for business expansion, equipment investments or cash flow optimisation, and the BillPay option empowers you to manage cash flow efficiently by spreading large, one-off payments – like tax bills and insurance payments – over 12 months. In tandem with dedicated account managers, businesses can build each loan to suit their unique needs and receive funding in as little as 24 hours.
See www.linkedfinance.com for more.
