Peer-to-peer lending platform Linked Finance has given a blanket two-month payment break to all of its loans in the restaurant, bar, pub and hotel sectors.
According to The Irish Independent, Linked Finance stated that it has also been actively engaging with borrowers in other sectors that have been adversely impacted by the COVID-19 pandemic.
New Loan Facility
Additionally, Linked Finance reportedly revealed that it is preparing to launch a new loan facility that has a deferred repayment feature to help SMEs that need working capital as a result of COVID-19's impact. This will allow businesses to get finance without starting repayments for three months.
Linked Finance also said that is consulting with the government about how the peer-to-peer lending sector can help SMEs access financial support.
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