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Alternative to the banks: Raising €50,000 in just four minutes for water buffalo farm

Agri entrepreneurs are turning to peer-to-peer lending and crowdfunding as an alternative to the banks

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Johnny Lynch raised €50,000 in four minutes for his Macroom Buffalo Mozzarella company when he turned to an online, peer-to-peer lending site

Johnny Lynch raised €50,000 in four minutes for his Macroom Buffalo Mozzarella company when he turned to an online, peer-to-peer lending site

Johnny Lynch raised €50,000 in four minutes for his Macroom Buffalo Mozzarella company when he turned to an online, peer-to-peer lending site

Farmers who set up rural businesses to sustain their income are turning to crowdfunding sites to finance their ventures, with some businesses raising tens of thousands in a matter of minutes and hours.

Peer-to-peer lending and crowdfunding sites are taking off among farming and agri-food business start-ups in Ireland, a conference on farm diversification has heard.

One rural business which saw the benefits of peer-to-peer lending first-hand was Macroom Buffalo Mozzarella in Cork which raised a staggering €50,000 in just four minutes at an interest rate of 8.5pc.


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