Ireland’s leading online lending platform, Linked Finance, has unveiled a new loan facility that allows SMEs to borrow a lump sum of €10,000 to €150,000 against card sales. The loan amount can then be repaid gradually over a year through a percentage of their daily card receipts. This new loan solution named Merchant Cash Advance has an interest rate starting from 4%, and it is targeted at SMEs having sales above €100,000, which receive a major share of sales through credit or debit card payments. This loan product will benefit online retailers, restaurants, beauty salons, pubs, and gyms, among others.
