Kilkenny company ‘Moth to a Flame’ was one of the first companies to use peer-to-peer lending platform Linked Finance, and it ended up paying off handsomely — raising €8,000 to enhance its Bennettsbridge workshop.
Linked Finance is Ireland’s leading peer-to-peer (P2P) lending company, has said it is committed to helping Kilkenny SMEs access finance by connecting them with interested lenders on their online lending platform.
Over the past three years, Linked Finance has raised over €11 million in funding for over 420 businesses all over Ireland, enabling them to meet their business objectives. In its next phase of growth, Linked Finance is targeting to lend over €350m to SMEs across the country, by the end of 2019. Linked Finance has already helped several Kilkenny businesses to successfully raise funding on their platform, including Moth to a Flame, who were one of the first users of the platform.
From a standing start in 1999, Larry Kinsella built ‘Moth to a Flame’ into one of the most pre-eminent craft candle-making companies in Ireland. Moth to a Flame has exhibited at global trade shows and has featured in international showings of contemporary Irish craft. Moth to a Flame make all of their own moulds in house, giving them a distinct competitor advantage. Larry Kinsella is a founding member of MADE in Kilkenny, a group established to foster excellence in crafts in this county.
“We operate from our workshop and showrooms in Bennetsbridge in County Kilkenny,” says Mr Kinsella.
“Locating the company in this part of Kilkenny, in an area known for high-quality Irish craft, was an important contributing factor to our company’s success. Kilkenny has many extremely talented and successful SMEs producing high-quality products and we feel lucky to work among them.
“We feel equally fortunate that Linked Finance is so committed to helping SMEs to flourish and thrive by connecting them with interested lenders. The funding we raised through Linked Finance has enabled us to expand and improve our business significantly. It’s amazing that such a simple process can provide such great results.”
Linked Finance connects local businesses who need loans with a vibrant online lending community. Real people make attractive returns while supporting businesses and jobs in their local economy. Irish businesses get the funds they need to grow and local lenders get a better return on their money.
“Moth to a Flame is exactly the type of Irish SME that lenders on Linked Finance are looking to get behind,” says Niall Dorrian, CEO of Linked Finance.
“Ambitious, indigenous businesses that create jobs and have a real positive impact on their local communities. The drive shown by SMEs across the country is critical to the success of the Irish economy.
“Linked Finance is committed to helping these businesses by giving them access to hassle-free finance, so they can continue growing and keep contributing to their local economies.
”Linked Finance is actively looking for businesses in Kilkenny who have been trading for a couple of years and who need access to finance to take things to the next level.”