Irish Fairy Door Company found their wish came true
ACCESSING finance to expand into foreign markets is not the easiest thing to do for an SME.
Even for an SME with potential such as Clondalkin-based The Irish Fairy Door Company, they found their bank not so helpful in an effort to expand to foreign markets.
The Irish Fairy Door company was set up in 2013 between Oisin Barry, his wife Niamh, and their friends Aoife and Gavin Lawlor, with a €8,500 loan.
Their magical fairy doors connected with kids in Ireland and the business has set its sights on markets in the USA and UK.
Despite receiving some welcome help from the South Dublin LEO in the beginning, the company were forced to look elsewhere for a viable alternative.
They found this in the shape of a fixed rate loan from Linked Finance, who have raised over €10 million for 372 Dublin businesses.
Niamh Sherwin Barry, Company Director of The Irish Fairy Door Company, said: “Linked Finance was introduced to us by a colleague. After some research we discovered that it was a very reputable and a very straightforward way of raising funds. They were very easy to deal with also.
“The reason we went to them was we are in the process of expanding into the USA and the UK. It’s a very expensive business, so being able to raise finance quickly is very important.”
Niall Dorrian, CEO, Linked Finance said: “The purpose of our platform is to support great Irish businesses and provide them with quick and hassle-free access to funding so they can unlock their full potential. Businesses all over Ireland are in growth mode.
“Our platform connects Irish SMEs with lenders who recognise the enormous potential and economic worth of their businesses and want to invest in them. We pride ourselves on providing an alternative to traditional bank lending, allowing Irish businesses to take control of their finances and meet their objectives.”
The alternative borrowing strategy has worked for The Irish Fairy Door Company, who are planning to recruit more staff in the run-up to Christmas.
“Business is going well but the banks are really cautious and as a result cash flow is always difficult,” said Niamh.
“It’s the likes of Linked Finance that help small business when the banks just won’t.”
TAGS Business
