Linked Finance hits €350m milestone in lending to SMEs, launches new fund
Non-bank lender Linked Finance said it has now loaned €350m to SMEs since its launch in 2013, adding that over 4,500 SMEs have now benefitted from its funding.
Linked Finance said that companies borrowing through the platform are attracted by the fast pace of decision-making, with the process from initial application to receipt of funding taking as little as 24 hours for loans of up to €500,000.
It noted the significant growth in loan sizes to SMEs, with the average amount borrowed increasing from €18,000 in 2013 to €115,000 today.
"This trend reflects the growing confidence of SMEs in leveraging larger funding amounts to fuel their growth and expansion initiatives," it said.
Over the past year, Linked Finance said it was seeing significant demand across various sectors, with the top industries seeking loans including retail, construction, manufacturing and professional services.
Linked Finance also said today they have successfully raised over €50m in new wholesale funding that is now available to Irish SMEs.
It said its new innovative fund is a first for the Irish non-bank lending sector and came about after the private placement of senior and junior notes issued by a Section 110 company and compliant EU securitisation regulation.
The maximum loan size for applicants is up to €500,000, with terms of up to five years.
Linked Finance's CEO Niall O'Grady said in an SME sector that needs much more funding support, this new securitisation format establishes an efficient and repeatable funding structure for Linked Finance.
"We expect to raise considerable further wholesale funding using this structure over the coming years and are looking forward to continuing to expand financing support for Irish SMEs," he said.
Niall O'Grady said he believes the exit of many banks from Ireland in the past 10 years leaves Linked Finance perfectly positioned to grow in lending and back more great Irish SMEs than ever before.
"Being able to turn around a lending decision for a loan of up to €500,000 in 24 hours is a unique proposition, and our objective is always to support SMEs to achieve the growth and targets they have set, or the valuable opportunities they want to pursue," he said.
"Flexible finance is where it's at, and we are proud to play a pivotal role in supporting the success of businesses across Ireland. We remain committed to providing accessible, affordable, and transparent financing solutions to fuel the ambitions of the Irish SME sector," he added.
Companies that have raised funding with the lender in the past include the Rolling Donut, Kokoro Sushi Bento and Murphy's Ice Cream.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
an hour ago
- Irish Independent
Dublin player scoops top prize of €500,000 in EuroMillions Plus as jackpot rolls on
While the jackpot held steady at €250 million and the top prize continues to roll once again, one Dubliner is celebrating their life-changing win. The lucky player bought a Quick Pick ticket on Wednesday, June 11, at Daybreak, Loughlinstown Shopping Centre in Loughlinstown, Co Dublin. The winning numbers in last night's EuroMillions Plus draw were: 5, 25, 35, 37, and 45. This marks Dublin's second big EuroMillions Plus win this week, following a top prize ticket sold in Swords for the draw on Tuesday, June 10. With this latest win, the total prize money awarded across EuroMillions Plus wins has now reached €10 million. Emma Monaghan of the National Lottery said: 'With the EuroMillions jackpot continuing to remain at a staggering €250 million, excitement is at an all-time high. "We're absolutely buzzing to see where and when this life-changing prize will be won. "And with just two more draws before the jackpot must be won on Friday, June 20, the countdown is on. "Tuesday's draw could be the one that makes history for our Irish players,' she added. Players are reminded that tickets for Tuesday night's draw can be purchased in-store, through the National Lottery app or website, ahead of the 7.30pm cut-off time.
Irish Examiner
2 hours ago
- Irish Examiner
Ireland's households have €160bn in savings. Could it be used to solve the housing crisis?
As Ireland grapples with a worsening housing crisis marked by soaring rents, a shortage of supply, and rising homelessness, construction industry bodies are pointing to an untapped resource that they say can help with long-term planning. New figures released by the Central Statistics Office (CSO) this week found that before adjusting for seasonality or inflation, Irish households saved €8.2bn in the first three months of 2025. For reference, the State allocated just over €5bn to housing in 2024. The saving rate of Irish households, reported to be 14% at the beginning of this year, has remained consistent for the last two years, driven by wage increases and falls in unemployment, which have led to a growth in household income. In total, Irish households' bank deposits amount to almost €160bn, with the low interest offered on savings accounts ensuring very little return for depositors. Irish banks have been notably slow in raising the rate of interest on deposits, with eight consecutive rate cuts by the European Central Bank putting further downward pressure on interest rates. 'The establishment of a state-backed housing investment vehicle could play a key role in addressing the housing crisis,' the Society of Chartered Surveyors Ireland has said, pointing to what it says is a mutually beneficial initiative for both households and the Government. Similar to schemes operating in countries like France, the society says such a scheme would enable the Government, which is constrained by the windfall nature of its corporate tax revenue, to put long-term, multi-annual housing plans in place, while at the same time facilitating investment in much-needed infrastructure projects. Gerard O'Toole President of the SCSI. 'At the same time, access to finance remains a major barrier, especially for small and medium-sized developers.' The State needs to explore alternative and diversified funding streams, Mr O'Toole said, adding that the Government's current level of investment in housing is not sustainable in the long term. 'A savings fund of this nature would underpin long-term planning by providing the multi-annual funding commitments housing projects require,' he said. 'It could also support longer-term budgets for several state housing schemes, including help-to-buy and vacant property grants, which are often subject to annual funding reviews and decisions.' But housing is just one avenue that could benefit from unlocking household savings. The European Commission is also seeking to channel savings into productive investments, adopting a new strategy earlier this year which aims to increase EU citizens' participation in capital markets. On an EU basis, about 70% of household savings, worth around €10tn, are held as bank deposits. The commission is currently under pressure to boost the bloc's competitiveness following the eye-opening findings of the Draghi report, which warned of the growing innovation gap between the 27-member bloc and the US. The commission needs to unlock new funding avenues to support homegrown businesses, particularly in the tech sphere, where Europe has largely fallen behind. 'The EU must unlock its potential to achieve its goals linked to competitiveness, security, and digital and green transitions,' the commission said. 'By developing an integrated banking system and capital markets, the savings and investments union can bridge the gap between savings and investment needs.' As the EU sees it, households should have the opportunity to hold more of their savings in higher-yielding capital-market instruments. It also notes the indirect impact this will have on a consolidating banking sector, which, due to its rising concentration, has seen less competitive rates offered to consumers. With more high-yield, government-backed investment options on the market, banks will be forced to increase the rates offered to deposit holders. This week's data from the CSO suggests a significant opportunity for the State to explore mechanisms to mobilise household savings. Construction bodies, the Irish Government and the European Commission have all emphasised the need to channel household savings into productive investment, but realising this potential will come down to effective coordination between the relevant institutions.
Irish Daily Mirror
2 hours ago
- Irish Daily Mirror
Location of Irish winner of massive top prize in EuroMillions draw confirmed
The highest possible EuroMillions jackpot of €250 million went unclaimed for a third successive draw on Friday night, but one Irish punter still had cause to celebrate a life-changing win. That punter claimed the top prize of €500,000 in the EuroMillions Plus draw, with the National Lottery revealing on Saturday that the lucky ticketholder is based in Dublin. The ticket was purchased on Wednesday (June 11) at Daybreak, Loughlinstown Shopping Centre in Loughlinstown and the winning numbers were 5, 25, 35, 37 and 45. It's the second massive EuroMillions Plus win in the capital in the space of a week, with a ticket purchased in Swords also winning €500,000 in the draw on June 10. Under EuroMillions community games rules, the jackpot can go no higher than the €250 million that has been in place for the last three draws but that jackpot can only remain capped for five successive draws. If there is still no jackpot winner in the fifth draw then the full amount - the €250 Million and any excess Jackpot value - flows down to the next prize tier that there is/are a winner(s) and so it must be won. Such a situation may come into play if there is no jackpot winner in the draw next Tuesday (June 17) and next Friday (June 20) so keep your eyes peeled. The National Lottery has reminded players that tickets for Tuesday night's draw can be purchased in-store, through the National Lottery app or at ahead of the 7.30pm cut-off time. Commenting on Friday night's EuroMillions Plus win, Emma Monaghan, National Lottery spokesperson said: 'With the EuroMillions jackpot continuing to remain at a staggering €250 million, excitement is at an all-time high. We're absolutely buzzing to see where and when this life-changing prize will be won. 'And with just two more draws before the jackpot must be won on Friday, 20th June, the countdown is on! Tuesday's draw could be the one that makes history for our Irish players.'
