Linked Finance, Ireland’s leading peer to peer online lending company, announced a loan of €20,000 to The Adventure Islands, a business based in Westport. The business, which specialises in outdoor recreation in Westport, will now be able to offer a clay pigeon shooting range as part of its activities, resulting in more jobs for the local area.
Speaking about the loan The Adventure Islands received, Ciaran Collins, owner, commented; “I was in a position where I really wanted to expand my business here in Westport but was met with continued frustration in terms of sourcing finance from traditional sources. Using the peer-to-peer market from Linked Finance I was able to get the investment, 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 Westport 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.
