Flender Ireland, the finance provider that has lent 60 million to small businesses since 2016, has entered into the States examinership-light debt restructuring process as it looks to erase up to 4.2 million owed to its parent and Revenue.
The company started of in the peer-to-peer lending market but now sources funds from institutional investors. Flender acts as an intermediary and charges a 5 per cent commission for loans set up through it. The loans remain on the books of the actual lenders and are not affected.
Creditors were informed on Friday that Brendan OReilly, an insolvency expert with Interpath Advisory (Ireland) has been appointed to oversee the Small Company Administrative Rescue Process (Scarp).
Scarp, introduced in 2021 t…
Read the full article at: https://www.irishtimes.com/business/2023/12/09/sme-lender-flender-restructuring-debt-to-erase-parental-and-revenue-liabilities/