Linked Finance, Ireland’s leading peer-to-peer online lending company, is delighted to announce that Beechlawn Organic farm, a business based in Ballinasloe will shortly secure funding of a loan of €20,000 via the Linked Finance platform. The business, which specialises in organic fruit and vegetables, will now invest the money in further development of the packing and office facilities, a down payment on a new refrigerated delivery van and a new computer for the office.
Speaking about the loan they received, partners Úna Ní Bhroin and Padraig Fahy, owners of Beechlawn Organic farm, commented; “We were in a position where we really wanted to expand our business here in Galway but were met with continued frustration in terms of sourcing finance from traditional sources.
“Using the peer-to-peer market from Linked Finance we will be able to get the investment quickly, make the purchase and generate business growth. It’s a tremendous asset to SMEs across Ireland. They are efficient and extremely thorough but, most importantly, this means that a local business in Galway has the opportunity to grow.”
Founder of Linked Finance, Peter O’Mahony said; “SMEs in Ireland are clearly now in growth mode and the economy needs these businesses to thrive as we recover fully. A key part of that recovery is access to reliable credit on good terms and available quickly.
“While banks are the traditional source of funds, businesses need a quicker turnaround and easier process than what the banks usually offer. Peer-to-peer lending bridges that gap and brings the added advantage of creating a community of active investors in Ireland’s recovery.”
Linked Finance facilitates peer to peer lending for Irish businesses. Responsible business borrowers are vetted as part of the Linked Finance registration process and can access cash flow from a large pool of potential lenders. These lenders can then in turn request and earn significant returns on their investment and engage with the businesses they invest in, both as customers and backers.