Folk2Folk partners with CrossLend

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Roy Warren

Local lending company Folk2Folk has partnered with the institutional digital debt marketplace CrossLend as it continues to build its institutional investor-base.

Folk2Folk facilitates loans to credit-worthy businesses seeking finance to grow, develop or diversify, funded by retail and institutional investors.

The economic recovery following Covid-19 requires a strategic response with Government loan schemes now recognising the systemic importance of non-bank lenders to urgently deploy capital to businesses in need.

While the Government schemes have become more flexible and inclusive, Folk2Folk believes there are still many more opportunities to open up the marketplace for non-traditional lenders.

CrossLend is a Berlin-based, European digital debt marketplace platform which connects loan originators such as Folk2Folk and institutional investors. To improve the efficiency of transactions, its platform supports both originators and investors with different tools for data management, analytics and reporting.

Folk2Folk has recently been approved for accreditation for CBILS (Coronavirus Business Interruption Loan Scheme) by the British Business Bank. In this context, the partnership with CrossLend opens the door to institutional funding for the platform’s CBILS as well as non-CBILS loans.

MD Roy Warren said: “Our ambition is to have a rich amalgam of investor streams with a healthy mix of both retail and Institutions. We’ve been steadily building our institutional relationships and our new partnership with CrossLend will expedite this further.

“We’re in the match-making business, so it made sense to use the same marketplace approach to introduce us to new institutional investors. CrossLend is a specialist at this and has a clear understanding of and respect for the FOLK2FOLK brand and business.”