Linked Finance Grows Loan Book By 65%

07 Aug 2018 | 11.54 am

Linked Finance Grows Loan Book By 65%

€10m in SME lending through Q2

07 Aug 2018 | 11.54 am

Irish peer-to-peer (P2P) lender Linked Finance recorded its strongest quarter to date in Q2 2018, facilitating more than €10m in lending. Founded in 2013, Linked Finance connects individuals willing to lend to Irish SMEs.

The strong Q2 lending performance on the Linked Finance platform means that total lending for the year so far is nearly €19m, up 65% on the first half of 2017.

The number of loans that went live on the platform rose by 39% in the second quarter to 335, with average loan size up 19% to almost €56,000.

•  Linkedin Finance Loan Book Report

Since launching, Linked Finance has provided more than 1,550 loans totalling over €60m to businesses across the country.

Linked Finance’s lenders have already earned more than €4.5m in interest and received more than €30m in repaid principle since 2013.

In recent weeks, Linked Finance announced that it had secured backing from fast-growing Portuguese digital bank Banco BNI Europa, which will use the platform to lend up to €50m to Irish SMEs over the next two years.

Niall Dorrian (pictured), CEO of Linked Finance, said that P2P lending is now a well-established funding source. “The increases we have seen in loan value, volume and registered lenders strengthens our position as the preferred alternative lender to Irish SMEs,” he added.

“The recent commitment from Banco BNI Europe will help us to achieve our goal of making Linked Finance the biggest source of non-bank funding to SMEs in Ireland.”

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