National Marketplace lender FOLK2FOLK, has surpassed £400 million in lending providing a valuable source of capital to businesses across Britain.
The company lent in excess of £59m during 2020, enabling hundreds of small businesses across a variety of sectors, including agriculture, alternative energy, leisure and tourism, hospitality and property development to grow, diversify or adapt to the new Covid-19 environment. FOLK2FOLK’s largest single loan of 2020 was in October for £7.5m.
The lending milestone has been reached thanks to a growing community of retail and institutional investors and is evidence of continued investor confidence in the platform. The minimum investment amount on FOLK2FOLK’s platform is £20,000 with retail investors able to take advantage of FOLK2FOLK’s Innovative Finance ISA to benefit from the tax wrapper. Investors typically receive 6.5% p.a interest which is paid monthly and secured against land/property.
Roy Warren FOLK2FOLK Managing Director said: “Reaching the £400 million milestone highlights the important role FOLK2FOLK plays in providing a lifeline to many business owners as well as providing an additional source of monthly income for our investors.
Helping small businesses have access to much needed capital for growth, diversification or to adapt to the new Covid-19 environment is essential right now.”
FOLK2FOLK secures all loans against UK property and no investors have lost any capital to date. As with all investments, capital is at risk. Marketplace lending is not covered by the FSCS. Past performance is not a reliable indicator of future results.