Thirty-nine Galway businesses have raised funds through Linked Finance’s online lending platform.
Linked Finance, a peer-to-peer lending company, says it has raised €1m for Galway-based businesses, including Revive Active, Walsh’s Bakery and Schoolbooks.ie, aimed at facilitating growth.
Niall Dorrian, CEO of Linked Finance, says the purpose of the platform is to support Irish businesses and provide them with quick and hassle-free access to funding.
“SMEs all over Ireland are in growth mode. Our platform connects Irish businesses with lenders who recognise the enormous potential and economic worth and want to invest in them,” he says. “We pride ourselves on providing an alternative to traditional bank lending, the Linked Finance model is fast, efficient and transparent, allowing Irish businesses to take control of their finances and meet their objectives. This is a model that works, and the number of Galway businesses who have now completed three loans on the platform, such as Schoolbooks.ie, is testament to this.”
Cathal Walsh, who is the second generation of his family to run Walsh’s Bakery based in Clifden, says he turned to Linked Finance to raise €50,000 to grow his business by upgrading his bakery equipment and café facilities, and upskilling of staff.
“The business has grown so much over the years. We still run on the same business principles that my father instilled in all of his children; respect your staff, care for your customers and always work hard. This is why I think we have been a success.”