Leading people to business finance company, Folk2Folk, has revealed that it has introduced more than £11.7 million of funds to local businesses and individuals since the start of the year.
Since launching in 2013, Launceston-based Folk2Folk has introduced over £50 million of funding to borrowers.
The company has seen a huge increase in the number of its existing lenders returning to invest further funds through Folk2Folk. Over 60% are now repeat lenders, providing a steady stream of funds for local people needing finance.
“The level of lender activity is enormous,” said MD, David Brown. “Such strong lender confidence in Folk2Folk is great for local people looking for finance because it means we consistently have funds ready and available.
“In recent months we’ve set up loans for a variety of businesses and projects from house building and property developments to the purchase of farm machinery, and we have finance ready for new applications.
“I encourage anyone looking for a loan to drop in to one of our agencies or call our friendly team for a chat. We aim to turn around a loan in about seven days.”
Folk2Folk, is one of the only peer-to-peer companies in the world with a high street presence and has a head office in Launceston and agencies in Bideford, Crediton, Falmouth and Midsomer Norton.
In terms of volume, Folk2Folk is currently the sixth largest P2P business lender of funds in the UK.