By Business & Finance 
Niall O’Grady is CEO of Linked Finance, where he has focused on helping Irish SMEs gain faster, easier access to growth funding since February 2021. He previously held senior executive roles at PTSB, including Commercial Director, and later served as Managing Director of 123.ie. He is the Non-Executive Chairman of bonkers.ie.
By Héloïse Chaudot
What are your main priorities and goals in your role?
To ensure Linked Finance is Ireland’s best and most trusted SME lender. We simplify the borrower’s end-to-end application process by combining new technology with excellent relationship management and fast decision-making.
The business is now approaching €400 million in lending, and the 4,500+ growing Irish businesses supported by Linked Finance are at the heart of this success. The average loan size has grown from €18,000 to €115,000, and most borrowers return for further funding. While this supports current growth, there is still significant ground to cover to reach and support many more Irish SMEs.
What are your biggest challenges as CEO?
The main challenge across all non-bank lenders is access to well-priced funds to lend to SMEs. Linked Finance crowdfunds with 7,000 fantastic, active retail investors to fund loans, but we, and the sector as a whole, still depend heavily on international banks to provide funding. This is something that needs to change.
Other challenges include managing SME uncertainty driven by current geopolitical events, as well as higher energy and staff costs that hit small businesses hard, particularly hospitality and retail businesses. We lived through similar pressures during COVID-19, which shows that access to fast, flexible capital is a lifeline for growth in the good times and for survival in challenging times.
How do you keep your team/staff motivated?
Every team member knows that our efforts directly impact Irish businesses, jobs, and communities. We see it firsthand: a manufacturer able to invest in equipment, a restaurant owner able to hire more staff or an energy drink starting to export. A win for them is a win for us. Supporting founders and SMEs is our ultimate purpose and hugely motivating.
What are the challenges facing the industry going forward?
SMEs are cautious borrowers, and traditional banks are completely inflexible in certain segments. This, combined with increasing costs of staff and energy are tougher to absorb for SMEs with limited revenue streams. New lenders like us must step up with a long-term view and back local Irish founders and SMEs by offering efficient, consistent, and personalised solutions.
What new trends are emerging in your industry?
Alternative lending is now a mainstream choice and offers new lending options. Traditional solutions like term loans dominate, but SMEs now want loans that are repaid flexibly, such as those that set monthly repayments based on a percentage of their monthly revenue. This can be combined with the option of making loan repayments from their customers’ card-based revenue. It’s a new, more flexible solution which Linked Finance offers.
Are there any major changes you would like to see in your sector?
Access to well-priced local institutional funding would make a massive difference and reduce the sector’s dependence on European banks to support Irish SMEs.
We must also close the awareness and credibility gap in Ireland. SME owners are not always well-served by incumbent banks, so we have to use that to our advantage and ensure they know we exist as a viable alternative.
As an employer, are you finding any skill gaps in the market?
Yes, particularly in data, technology and credit expertise. These are specialist areas, and the talent pool is incredibly competitive.
How did your strategy develop in the context of the banking crisis and economic crisis?
Linked Finance was founded in 2013 specifically because of the gap created by the financial crisis. The remaining traditional banks had pulled back sharply, and viable, well-run SMEs couldn’t access funding. Our original model was built to address this, and we continue to make that trust our strategic priority.
How do you define success, and what drives you to succeed?
If the businesses we can support are growing, hiring, and investing with confidence, then we are successful.
What’s the best advice you’ve been given in business?
Keep focused on the customer and, above all, keep the operating model simple.
What advice would you give to others starting in business?
It’s a bit like having a baby; it’s never the “perfect” time, but go for it anyway.
What have been your highlights in business over the past year?
Announcing over €50 million in new wholesale funding was a great milestone for 2025, and we are looking forward to reaching €400 million in lending in the coming months. However, watching the new Linked Finance team working together, being brilliant at what they do, and enjoying it, is the real highlight.
What’s next for your company?
Our job is to ensure that when founders and SMEs are ready to grow, access to funding isn’t holding them back.
Where do you want your business/brand to be this time next year?
We want to be the name Irish SMEs think of first. A lender that businesses feel comfortable approaching early, before urgency drives the decision. Reputation in this industry is earned through consistent delivery, and we’ll continue to earn it the way we always have.
What is the best book you’ve ever read (non-business) and why?
Humankind by Rutger Bregman. It shows that the majority of people are more motivated by positive intent. A reassuring counterpoint to today’s algorithms.
What is your favourite hobby and why?
Tennis. It accommodates all shapes and sizes, even mine, and every 10 minutes you take a break.
What is your mantra for life?
Pressure is a privilege.
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