Pepper Money expands by offering corporate loans

Pepper Money, a unit of an Australian loans giant which has Irish bases in Shannon and Dublin, has said it will provide corporate loans for the first time in Ireland after it identified a huge demand for companies and professionals to refinance existing loans or buy new properties.

It will come up against a range of lenders who have targeted lending to small companies, including lending to professionals, which some small lenders claim have been ignored by the big banks despite the fast-growing economy.

Pepper said it will advance the commercial loans at amounts starting at €250,000 and up to €7.5m. It will charge rates starting at 5% for the loans and accept applications from borrowers who have had a chequered credit history but were now meeting their payment agreements.