P2P Lending in Ireland

The Irish Market for Peer-to-Peer Lending

The first P2P lending platform in Ireland opened in 2013 (Linked Finance), so the P2P lending market in Ireland is still relatively young, but more platforms are opening on an ongoing basis. According to data from the latest report by Cambridge Centre for Alternative Finance on alternative finance and crowdfunding in Europe, Ireland had a total funding volume of €106.8 million in 2017 up 39.1% from a funding volume of €76.8 million in 2016. This places Ireland as the eleventh largest country in the European region, where the largest players are the UK, France and Germany. Almost all of the funding volume in Ireland came from debt-based business models – especially invoice trading – so there should still be plenty of room left for further growth for the peer-to-peer lending market, and both P2P business lending and P2P property lending could have a bright future in Ireland with several interesting platforms operating within these areas.

For a current view of the European market for peer-to-peer lending and equity crowdfunding, you can visit our data-section for an overview of all platforms denominated in Euros.

Table of Contents

Best P2P Lending Platforms in Ireland

Here, you will find a list of the top peer-to-peer lending platforms in Ireland. Under each platform, you will find a brief description of the platform and the type of peer-to-peer lending available for investing on the platform. The list is sorted alphabetically, but to promote platforms contributing to transparency in the market, we have placed the platforms sharing data about their funding volume and other relevant statistics on the top. If you see a platform missing, please feel free to submit the platform by using the submit formula located in the sidebar of this page.

Property Bridges

Property Bridges facilitates crowdfunding in the area of real estate lending to developers and property in Ireland at a minimum investment of €500. The platform offers financing to both commercial and residential property as development financing, bridge financing or simply use of property as collateral financing. Projects are available as commercial, retail, mixed-use and single family residential property, in categories of cash-flow producing property, acquisition and disposition of real estate development project. The platform was founded in 2018 by David Jelly as a Irish company. The office and company is located in Dublin, Ireland and exclusively finances Irish property. All loans are in Euro(EUR).

Any person of at least 18  years old or company with a EU bank account can invest on Property Bridges.

Any company or SPV owning a property can apply for a loan on Property Bridges but there are criteria depending on the type of financing need:

Development Finance:

  • Max LTV: 70%
  • Max LTC: 90%
  • Ability to take First Charge
  • Planning in place
  • Defined Exit Strategy

Bridging Finance:

  • Max LTV: 70%
  • Minimum Duration: 3 Months
  • Ability to take First Charge
  • Defined Exit Strategy

Commercial Financing:

  • Max LTV: 70%
  • Max Duration: 3 Years
  • Ability to take First Charge
  • Planning in place
  • Defined Exit Strategy

Lendermarket

Lendermarket facilitates crowdfunding in the area of consumer lending to borrowers all over Europe provided by Creditstar at a minimum investment of €10. The platform offers unsecured consumer loans from individuals in need of cash for any purpose desired by the borrower. Lendermarket was founded in 2019 by Creditstar Group as a Irish company. The office and company is located in Dublin, Ireland but offer loans issued by Creditstar from its branches all over Europe. All loans are in Euro(EUR).

Any company or person above 18 with a EU bank account can invest on Lendermarket.

Lendermarket is offering loans from the owner and loan originator Creditstar, any person above 18 years can apply for a loan from Creditstar.

Flender

Flender facilitates crowdfunding in the area of SME business lending to Irish companies at a minimum investment of €50. The platform offers financing to companies launching a new product, expanding business, needs to finance a specific project, working capital and marketing among others. Flender was founded in 2015 by Jeremy Davies Betancourt, Kristjan Koik and Oli Cavanagh as a Irish company. The office and company is located in Dublin, Ireland and exclusively help Irish businesses acquire funding through their crowd. All loans are in Euro(EUR). 

Any company or person above 18 with a valid passport/driver license and valid bank account can become a lender on Flender.

Any Irish company or sole trader with Irish residency that have been actively trading for at least two years and can pass their minimum of credit risk and fraud criteria can apply for a loan on Flender. Financing volumes are from €15,000 to €300,000 and terms up to 3 years.

Invoice Fair

Invoice Fair facilitates crowdfunding in the area of invoice lending/receivables financing with debtors from all countries and currencies eligible to trade invoices. The platform offers three different products; Flexible invoice finance enables companies to sell up to 90% of the invoice value, Purchase Order Finance enables companies to up to 70% of the purchase order value and Recurring Revenue Finance enables companies to sell up to 70% of the future monthly recurring revenue. Invoice Fair was founded in 2014 by Helen Cahill as a Irish company. The office and company is located in Dublin, Ireland but offers financing to companies with debtors from all over the world. Invoices can be in all types of currencies.

Any Limited Company, institutional investor, high net worth sophisticated investor and investors with self administered pension funds can invest on Invoice Fair. 

Any Limited Company that have a trading history of at least one year with a min. turnover of €1,000,000 each year and a min. invoice size of €30,000 is eligible to apply for selling invoices of debtors in any country or currency.

Linked Finance

Linked Finance facilitates crowdfunding in the area of SME business lending to Irish businesses at a minimum investment of €50. The platform offers financing for purposes such as improving working capital, purchasing assets like new machinery, vehicles or information technology and expansions which could be hiring a new salesperson to grow the business among others. Linked Finance was founded in 2011 by Peter O’Mahony as a Irish company. The office and company is located in Dublin, Ireland and exclusively offer financing to Irish companies. All loans are in Euro(EUR).

Any European company or person that is at least 18 years old with a EU bank account can invest on Linked Finance.

Any Irish business that have a trade history of at least 2 years with a financing volume of €5,000 to €300,000 up to 60 months can apply for a loan on Linked Finance.

Taxation on Peer-to-Peer Lending in Ireland

Peer-to-peer lending is almost always regarded as an investment in Ireland and will qualify as unearned income for taxation purposes, which means that investors earn interest without a tax deduction. To report taxes on interest from peer-to-peer lending, you must file an annual self-assessed tax return with the interest received from your investments in each tax year. You will often be able to find the information needed in your account at the P2P lending platform where you invest.

You can read more about taxation on peer-to-peer lending in Ireland in this Tax and Duty Manual from Revenue (Irish Tax and Customs).

P2P Lending Regulation in Ireland

There is currently no bespoke regulation on peer-to-peer lending or other crowdfunding types in Ireland, and since there is also still a lack of common rules for crowdfunding in the European Union, regulation of peer-to-peer in Ireland is based on national legislation. However, this might change in the foreseeable future as the European Commission in March 2018 presented a proposal for a regulative framework on crowd and P2P finance as part of their Fintech Action Plan.

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