Linked Finance launches new ‘Beyond Brexit’ business loans
Ireland’s leading P2P lending platform offering new 18-month loans for Irish SMEs making preparations for Brexit.
Prudent for businesses to prepare for worst given uncertain UK political environment
Managing cashflow and working capital a key consideration of any Brexit preparation
New loans aimed at allowing Irish businesses to spread annually recurring costs over a longer repayment period
Part of the platform’s wider efforts to support ambitious Irish SMEs as they navigate Brexit uncertainty.
Linked Finance recently reduced many of the interest rates available to Irish businesses on the platform.
Linked Finance, Ireland’s leading peer-to-peer (P2P) lending platform, 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 31 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 cashflow. 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.”
Linked Finance is Ireland’s largest P2P lending platform. The platform offers Irish SMEs an innovative way to access business loans of up to €300,000 characterised by easy online applications, quick credit decisions and a responsive service delivered by dedicated account managers who understand the needs of Irish businesses.
Since Linked Finance was founded, the platform has provided more than €110m in lending to SMEs across every county of the country and every sector of the economy.
Notable Irish companies that have raised funding with Linked Finance in the past include Viking Splash Tours, The Rolling Donut, Lolly & Cooks, Murphy’s Ice Cream, Iconic Offices and the Irish Fairy Door Company.