Ablrate & Access Commercial Finance Tout Origination Partnership

Asset-backed peer to peer lender Ablrate has released information on an origination partnership with Access Commercial Finance based in Leeds. The arrangement is said to have generated over £2.5 million of loans so far this year. Ablrate launched as a niche P2P lender focusing on aircraft finance but has since branched out into capital equipment and property.  Ablrate’s arrangement with Access is thus driving platform growth.  Ablrate also offers a secondary market for investors in their loans.

The origination partnership is said to have resulted in sizeable deals for a range of sectors, including an £800,000 funding boost for a previously mothballed Eco Park, near Newcastle. The deal is expected to grow by £1.4 million. The waste management plant in Blaydon suffered following the collapse of Lehman Bros in 2013. The £800,000 in finance  raised through Ablrate and Access is expected to get the plant fully operational by October creating at least 30 jobs.

David Bradley-WardDavid Bradley-Ward, CEO of Ablrate said that origination was always key to a successful platform and their partnership with Access has been a success. “We hope to be able to continue this level of business and work more closely with the team,” said Bradley-Ward.

Access, launched in 2014, provides financing for “situations that are tricky or complicated.” The company provides access to capital to businesses that struggle to raise money.

Matt HaycoxMatt Haycox from Access Finance said  they had been able to provide some “amazing deals” via the partnership with Ablrate.

“…there will be much more to come through this partnership. Ablrate’s platform is very different from other crowdfunding sites, and it addresses the issues of finding finance for all kinds of capital equipment and property. Like us they manually underwrite all transactions allowing deals that historically wouldn’t fit in to other platforms complicated lending algorisms to find a place and get funded. Companies that need this type of funding can have great potential for high growth but because they are often operating in niche or unpopular markets, necessitating specialist knowledge, the right deal could be hard to find – up until now anyway!”

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