Kerry lenders are among the most supportive of businesses in their own county, according to research by Linked Finance, Ireland’s leading P2P (Peer-to-Peer) lending platform. Linked Finance reviewed all loans made by its users and publishes a league table of the most loyal lenders to their county.
Lenders in Cork came out top of the table, with Kerry third, with the desire to lend locally also high in Galway and Waterford. The lowest level of local support was found in counties Monaghan, Leitrim, Longford and Roscommon, although this is likely in part due to the smaller choice of loans available in these counties.
The Linked Finance platform has supported fantastic Kerry businesses including Skellig’s Chocolates, Murphy’s Ice Cream and Spa Seafoods, raising over €1.1m to fund business growth.
Niall Dorrian, CEO of Linked Finance said:
“The data reveals that lenders in Kerry are dedicated to supporting local businesses. Wherever our users choose to lend their money they can do so in the knowledge that they will earn a good return while supporting the growth ambitions of entrepreneurial Irish businesses.
There are borrowers and lenders on Linked Finance from every corner of Ireland and 2017 was a record year of growth for the business, with new lending up nearly 200% in the first 9 months. Having recently raised over €2m in new funding, we are well set to invest in driving further growth in 2018.”
Kieran Murphy, Owner of Murphy’s Ice Cream, comments:
‘Making ice cream that puts a smile on people’s faces excites me much more than raising finance. That being said, we need finance to grow, and the process with Linked Finance was straightforward and hassle-free. We raised €75,000 in less than 2 days, and we were very happy with the experience.’
Linked Finance has now provided more than 1,200 loans for Irish SMEs since its launch in 2013, with more than €3 million in interest already repaid to Linked Finance lenders. Companies that have been supported by Linked Finance loans include Viking Splash Tours, Lolly & Cooks, Murphy’s Ice Cream, Iconic Offices and the Irish Fairy Door Company.
Since its establishment, Linked Finance has pioneered P2P lending in Ireland. Its market-leading platform has demonstrated that there is a real appetite among Irish SMEs for new and innovative paths to funding. Lending on the site has effectively doubled each year and 2017 has been a transformational year for the business, with total loans in the first 9 months of the year up 192%.