Launceston-based peer-to-peer lending platform, Folk2Folk, has passed the £300 million lending mark.

According to figures, Folk2Folk is the third largest peer-to-peer lender to business in the UK in terms of money lent.

By facilitating the lending of £300 million, the company has enabled small businesses across a variety of sectors to grow, diversify or refinance.

Interim MD, Roy Warren, said: “Reaching the £300 million milestone highlights the important role Folk2Folk plays in providing a lifeline to many local and rural businesses as well as providing an additional source of monthly income for our lenders’ savings pots.”

Folk2Folk secures all loans against UK property and has experienced zero customer losses since inception in 2013. As with all investments, capital is at risk. Peer-to-peer lending is not covered by the FSCS.