A damn hipstery video explaining the role of Linked Finance, a facilitator and playa in the growing Irish crowd-funding sector.
The Dublin-based firm holds online auctions that allow people to “register their interest, pledge the amount of money they want to lend and the rate of interest they expect in return”.
There’s got to be a catch.
Peter O’Mahony of Linked Finance writes
Our technology offers a new and painless way for businesses to borrow money from a large group of real people, including their own customers.. Lenders can invest as little as €50 or as much as €2000 in any one project so everyone can get involved and help get funding back into businesses in ireland, while making themselves a return of between 5-15%’.
Hmm.
Crowd Funding provides complete transparency to both the lender and borrower and it brings lending back to basics where a lender simply deposits funds and when there are enough funds available loans can be made to credit worthy borrowers.
OK.
There are no complicated financial instruments or subprime lending. LinkedFinance takes no part in the funding and does not leverage the debt. We are simply a facilitator who puts people with disposable funds in contact with people in need of funds to run or develop their business. At its heart is the community.
There MUST be a catch.
Anyone??
