Linked Finance - Risk and return review
Linked Finance - Returns and loss rates
Linked Finance – Platform statistics 2026
25114
investors
Linked Finance – Pros & Cons
About Linked Finance
What it is
Linked Finance is an Irish platform, run in Dublin by Linked P2P Limited, where individuals lend to established small and medium-sized Irish businesses. It has lent since 2013: €418.6 million across 5,363 loans, with 25,114 registered users (October 2026). It passed €400 million in June 2026. Since May 2025 a €50 million fund from larger investors also lends alongside the crowd.
How it works
You bid from €50 to €10,000 on each loan request, yourself or through the Autobid tool. Borrowers are graded by the platform from A+ (strongest) down to D and Y, and pay 7.20% to 17.25% a year depending on the loan. Loans run from six months to five years and are repaid monthly, so part of your money comes back every month. Most are term loans; some are merchant cash advances, which carry a different fee.
Returns
The platform's own statistics give a net portfolio return of 8.89% a year as of 31 December 2025. The definition is not published: it appears to be after defaults, and whether it is also after fees is not stated. The figure sits in the page's data rather than in its visible text. The platform also markets an average of 8% a year. Lenders have earned €45.9 million in interest since the start (October 2026).
Losses and defaults
Losses so far are small: €2.10 million has been written off, about 0.6% of the €348 million lent up to the end of 2025 (calculated from the platform's own figures). Another €8.30 million (2.4%) was in default and not yet written off, so about 3% of all money lent has been written off or is in default.
The yearly default rate, by loan value, averaged 1.6% from 2018 to 2025, and was 1.83% in 2025 (2.53% in 2024). Counted by number of loans it is higher, 3.79% in 2025, because smaller loans default more often. Lower grades fail far more: 1.05% of A+ loans against 9.65% of D loans and 24.21% of Y loans. At the end of 2025, 49 of 1,357 running loans (3.6%) were more than 90 days late. The platform does not say exactly when a loan counts as defaulted.
What secures your money
Loans are usually unsecured: they are typically backed by personal guarantees from the business owners, with no property or other assets pledged as standard. There is no buyback, provision fund, insurance or compensation scheme. Borrowers are graded by the platform's own credit team; no security is valued. When a loan defaults, the debt passes to Linked Recoveries Limited for collection. Recoveries are not published, and the gap between money in default (€8.30 million) and money written off (€2.10 million) shows that many cases are still open. If recovery costs are not met by the borrower, lenders share them. In plain words: you lend to small Irish businesses usually backed only by their owners' personal promises.
Who runs it and its licence
The operator is Linked P2P Limited (Irish company number 491763, founded in 2010). The Central Bank of Ireland authorised it as a European crowdfunding service provider on 18 December 2023 (reference C239733), including for facilitating loans. Its accounts are filed with the Irish companies register (latest to 30 September 2025). Investments are not covered by any deposit guarantee or compensation scheme.
Fees
On term loans, lenders pay a service fee of 0.1% a month of their outstanding loans (about 1.2% a year), taken from repayments. On merchant cash advances the fee is 30% of the interest the borrower pays. One withdrawal over €250 a month is free; withdrawals under €250 cost €5 each.
Getting your money out
There is no secondary market: you cannot sell a loan to another lender. Your money comes back only through the monthly repayments, over up to five years. Uninvested cash can be withdrawn to your EU bank account. Public review score 4.4 out of 5 (29 reviews, August 2026).
Our view
Return: Medium — a net portfolio return of 8.89% a year (end of 2025), though its definition is not published. Risk: Low (higher means more risk) — about 0.6% of money lent has been written off and default rates are low and published every year, but another 2.4% is in default and loans have little security. Risk-return: High — a medium return for a low level of risk.
Regulation
License / Regulation: Linked P2P Limited, trading as Linked Finance, is authorised by the Central Bank of Ireland as a European crowdfunding service provider since 18 December 2023 (reference C239733), for facilitating loans and placing securities, with passporting to other EU countries. Investments are not covered by any deposit guarantee or investor compensation scheme.
Functionality
For Investors
Useful Information
Yes. The Central Bank of Ireland authorised Linked P2P Limited as a European crowdfunding service provider on 18 December 2023 (reference C239733). Your investments are not covered by a deposit guarantee or compensation scheme.
Uninvested cash sits in segregated Lenders' Funds Accounts at AIB and Bank of Ireland, kept apart from the platform's own assets. Money already lent is a claim on the borrowing business.
€50 per loan, up to €10,000 per loan request. Pension accounts bid from €500 and need a €20,000 minimum deposit. You need an EU bank account.
The net portfolio return was 8.89% a year at the end of 2025. About 0.6% of all money lent has been written off and another 2.4% was in default; the yearly default rate by value averaged 1.6% from 2018 to 2025.
Usually only personal guarantees from the business owners; no property or assets are pledged as standard. There is no buyback, provision fund or insurance. Defaulted debts are collected by Linked Recoveries Limited, and recoveries are not published.
No. There is no secondary market. Your money comes back through monthly repayments over the life of each loan, up to five years.
0.1% a month of your outstanding term loans (about 1.2% a year), and 30% of the interest on merchant cash advances. One withdrawal over €250 a month is free; withdrawals under €250 cost €5.
If a borrower fails, the debt is pursued by Linked Recoveries Limited and lenders share any recovery, and any recovery costs the borrower does not pay. If the platform fails, your cash is in segregated accounts, but collecting the loans would depend on whoever takes over the loan book.
Yes, much more. By number of loans, 1.05% of A+ loans defaulted, against 3.56% of B, 7.11% of C, 9.65% of D and 24.21% of Y loans (end of 2025).
