Linked Finance has become one of Ireland’s leading alternative finance providers, offering businesses a faster alternative to traditional bank lending with decisions in as little as 24hours. In this week’s blog, loan application specialist Nuala McGowan, ACA, CPA, AIA examines the loans offered by Linked Finance, which provides funding to Irish SMEs for everything from working capital and expansion to equipment, stock, tax bills and insurance costs.

What finance is available?

Term Loans – Loans from €50,000 to €500,000, with terms of up to five years. Suitable for expansion, investment, working capital and major business expenditure.

Merchant Cash Advance – Funding from €10,000, repaid through a percentage of card sales. This can provide flexibility for businesses with fluctuating revenues.

BillPay – Finance from €10,000 to help spread the cost of large tax bills or insurance premiums over up to 12 months.

Why consider Linked Finance?

The major attraction is speed and accessibility. Applications are completed online, with credit decisions potentially available within 24 hours.

Linked Finance says it has now provided more than €400 million in funding to over 5,000 Irish SMEs, highlighting the growing demand for alternative business finance.

What should businesses watch out for?

Alternative finance isn’t necessarily cheaper than traditional bank lending. Linked Finance’s rates are tailored to the business and product, and in some cases may be higher than mainstream bank rates. However, there are no solicitor fees or valuation costs, which can come into play with bank lending.  

Businesses should also note that personal guarantees are required, despite the loans being described as unsecured.

The bottom line

For Irish SMEs that need finance quickly—or businesses that may struggle to secure conventional bank funding—Linked Finance offers an attractive alternative.

However, businesses should compare the total cost of borrowing, repayment terms and personal guarantee requirements before making a decision.

For SMEs, Linked Finance is worth considering—but it should be one option in a wider search for the right finance package.

For more information contact Nuala on 086 0352849