Seán Kyne (Galway West, Fine Gael) | Oireachtas source

I welcome Mr. O'Mahony and the group represented today. This proposal is interesting and innovative. Mr. McMonagle mentioned that when he was awaiting a response from the banks, he decided to approach LinkedFinance. Are LinkedFinance customers a mix of those who are frustrated with the banks and people who make a conscious decision to use LinkedFinance? Are people moving more towards making a conscious decision to go with LinkedFinance rather than the banks? Is the business developing through word of mouth?

Mr. McMonagle spoke about being vetted by the banks and customers of LinkedFinance being vetted just as they would be with the banks. However, is LinkedFinance lending to people who have been refused loans by the banks? Senator Feargal Quinn spoke about new start-ups. Part of the problem about which we hear so often is that new start-ups find it impossible to get finance. LinkedFinance is not focused on new start-ups, but does it have plans to deal with them in the future? What type of people are the lenders? Are they business people or retired? What is their background? Are there limits to the overall level of funding or the number of customers being accepted for business?