FOLK2FOLK has bolstered the size of its Broker team by assigning three existing staff members to Business Development Manager roles to join the existing Broker resource.
FOLK2FOLK, who began engaging with the Broker community in 2018, has seen strong growth via its Broker channel thanks to its pool of Broker Partners. This has resulted in several strategic adjustments within the firm, including an expansion of its South West focus to become a national lender, accepting deals from across England, Scotland and Wales. In addition, due to the size of deals being introduced by Brokers, FOLK2FOLK has increased its minimum loan amount to £100,000. In this latest move, FOLK2FOLK has redirected internal expertise from direct client focus to the Broker community.
The expanded team of BDMs will look after FOLK2FOLK’s existing Broker Partners as well as be the first port of call for any other Broker introduced deals. All are experienced deal managers, empowered to give immediate indicative decisions on loans, enabling fast decision making. As dedicated points of contact, they will case handle Broker introduced deals end to end through FOLK2FOLK’s internal processes.
The new Broker team members:
- Matt Belding joined FOLK2FOLK in 2017, bringing 20 years’ experience in client services within BNP Paribas, RBC, Aviva, Newedge (Societe Generale) and HSBC. Matt is an experienced case handler with knowledge of loan security and underwriting process.
- John Webber who, prior to joining FOLK2FOLK in 2019, worked as Commercial & Agricultural Lending Manager at Lloyds Bank for 38 years, brings deep understanding of business needs and the complex nature of land and property security.
- Andy Ruth joined FOLK2FOLK just prior to lockdown last March and has quickly became a valued and experienced member of the broker team. Andy has more than 30 years of banking experience earnt at Lloyds Bank, Bank of Scotland and Nat West.
Roy Warren, Managing Director of FOLK2FOLK said: “The success of our Broker channel means a realignment of our internal resource is a natural next step. By focusing additional resource on to Brokers, we are boosting the support we provide, enhancing the level of personal service, as well as speeding up decision making and deal handling.”
“Brokers play an increasingly important role in helping British businesses find the right finance for them – whether that’s to grow, diversify or adapt to the new environment – all of which is essential for our country’s post-Brexit success. We have built strong relationships with good brokers and we’re always looking to grow our community of Broker Partners”.
“It’s important to us, that we understand what our Broker Partners need, and that they understand our lending process as well as the appetite of our investors. Collectively we enjoy simple and successful relationships; no one wants delays or misunderstandings in the deal chain.”
In a recent survey, FOLK2FOLK’s broker network gave their experience with the platform 4 out of 5 stars, as well as be voted a finalist for ““Best Service from an Alternative Funding Provider” in the Business MoneyFacts awards.
FOLK2FOLK provides funding for almost any business purpose, across all sectors, as long as there is sufficient security in the form of land or property. To date, the platform has a cumulative lending total of £400m and had a record year in 2020 in terms of deal volume and profitability.