Thursday 18 July 2019

Capitalflow to lend €300m to Irish SMEs in 2019

Ronan Horgan, chief executive of Capitalflow. Photo: Andres Poveda Photography
Ronan Horgan, chief executive of Capitalflow. Photo: Andres Poveda Photography
Ellie Donnelly

Ellie Donnelly

Specialist business lender Capitalflow is to lend over €300m to small and medium Irish businesses this year.

The announcement comes as it opened its new headquarters in Dublin today.

The company - which provides invoice discounting, property finance, leasing, hire purchase, refinancing and asset-based lending – has already lent €260m to Irish SMEs since 2016.

Capitalflow CEO Ronan Horgan said: "The pillar banks have ignored key sectors of Irish industry and abandoned the idea of people doing business with people."

"This has provided us with a golden opportunity," he added.

The opening of the Dublin headquarters comes as the group finalises plans to open a third Irish office in Cork in the next three weeks.

A fourth regional office will open in the latter half of 2019.

"The new office rollouts will facilitate its aggressive nationwide expansion strategy on the back on an already intensive recruitment drive," Capitalflow said.

Capitalflow was established by Mr Horgan in 2015. In 2016, it was acquired by London-based private equity firm Pollen Street Capital.

Originally part of RBS, Pollen Street was spun out into a separate business in 2014.

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