We’re just weeks away from the end of 2020; a year that has been a challenge for us all. I’m pleased to say we weathered the storm and despite the challenges have had a surprising year of success.
As we countdown to Christmas, here are FOLK2FOLK’s top 12 achievements of 2020:
We remained open for business throughout the pandemic, continuing to lend to small businesses throughout Britain as well as offering great investment opportunities to our Investors.
Our secondary market remained open and evidenced very high levels of liquidity, with loans being sold within a matter of hours in some instances.
We announced profitability in April.
Our cumulative lending volume achieved in excess of £393m.
Our loan volumes in 2020 have been greater than last year.
October 2020 was the highest profitable month in our company’s history.
We underwent rigorous due diligence by the British Business Bank and became accredited under CBILS – becoming one of only four peer to peer lending platforms to achieve this.
We announced a fund for Cheltenham small businesses funded by Cheltenham Borough Council.
Forest of Dean District Council registered as a FOLK2FOLK investor.
We announced our partnership with CrossLend a European match-making platform for institutional investors.
We evolved from being a pure peer to peer lender to becoming a marketplace lender (MPL), offering investment opportunities to both retail and institutional investors.
We broadened our geographic scope from being a predominantly South West focused lender to offering business loans and investments throughout Britain’s regions.
Thank you to our Investors, both individual and Institutional, for the loyalty, empathy and human understanding you have demonstrated this year. It is thanks to you that we’re able to provide a much-needed lifeline of finance for small businesses throughout Britain – something that has been crucial for many sectors.
As the New Year beckons, we’re ready to build on these achievements and enter 2021 with energy and optimism for what it may bring.
From everyone at FOLK2FOLK, we wish you and your families a healthy and happy Christmas and New Year!