Linked Finance lent record €5.5m to businesses in July

Peer-to-peer lending platform Linked Finance lent €5.5 million to businesses in July – a record month for the non-bank lender.

It reported strong demand for loans from businesses looking to restock and reopen as the economy begins its recovery from the Covid shock.

The company said the July figure was over treble the level of lending in the same month last year, signalling a rebound from the negative business sentiment at the peak of the pandemic.

In July Linked Finance lent money to over 40 SMEs, with an average loan size of €136,000.

Year to date, Linked Finance has issued over €21.6m in loans, compared to €19m for the full year in 2019.

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Source: Linked Finance lent record €5.5m to businesses in July