Linked Finance launches new ‘Beyond Brexit’ business loans
Linked Finance has launched a new ‘Beyond Brexit’ loan for Irish SMEs who are in the process of preparing for Brexit.
This new 18 month loan period is a new offering on the platform that allow Irish SMEs to access working capital facilities of up to €300,000 in just 24 hours.
These new loans allow Irish SMEs to spread large annually recurring costs over a longer repayment period than the typical 11 or 12 month facilities usually on offer for things like insurance premiums, stocking loans or professional subscriptions.
According to the Irish government’s “Getting Your Business Brexit Ready” guide, managing cash flow is a key consideration of any practical preparation for Brexit.
Many of the businesses who already use the Linked Finance platform are looking for ways to better manage cash through this period of Brexit uncertainty.
Linked Finance’s “Beyond Brexit” business loans are particularly useful for Irish businesses who want to acquire additional stock in advance of 31st October.
These new loans are just one part of the platforms wider efforts to support homegrown SMEs as they continue to trade through this period of great national uncertainty.
Linked Finance recently announced a wide range of rate reductions across the platform, with reductions of as much as 0.55% on some 36-month loan categories.
Commenting on the new loans, Niall Dorrian, CEO of Linked Finance said:
“Many of the businesses we work with are putting additional working capital in place now. The logic being that it’s easier to access credit today before any Brexit-related challenges have taken their toll on cash flow. With the UK political situation changing day by day Irish businesses will continue to hope for the best, but would be prudent to prepare for the worst.
Linked Finance is committed to helping Irish SMEs rise to any challenges that Brexit might bring. These loans and our recent rate reductions are just two of the ways that we will continue to support the great local businesses that form the backbone of our economy as they navigate these uncertain times.”
