CrowdProperty reports that it has now lent over £100,000,000 to SME property professionals. This number includes more than 1,100 homes with a value over £200 million. CrowdProperty states that these loans have enabled over £80 million spent on labor, materials, and other services – thus boosting the UK economy.
Platform investors may earn, on average, 8% per annum.
CrowdProperty explains that it finances projects that are ready to proceed. with clear exit plans. The platform claims that, to date, 100% of projects have been fully repaid.
In an email distributed by Mike Bristow, CrowdProperty CEO and co-founder, he said his company “has proven to be a sustainable and reliable source of finance through the toughest of economic backdrops.”
“As one of the only active development lenders throughout the COVID-19 pandemic, enabled by diverse sources of capital and a perfect lending track record since 2014, the business has been profitable since 2019 and profitable each and every month since lockdown began. CrowdProperty has seen strong growth in annual lending of 1,371% through the last 3 years and revenue growth of 1,019% through the last 3 financial years. Whilst profitable and robust, the business continues to invest in team, systems and processes to build deeper efficiency and effectiveness to support a much larger lending business vision, for which there is already huge demand,” said Bristow.
Bristow added that investor liquidity is higher than ever at CrowdProperty, “bucking the trend of all investment classes and the alternative finance sector, as retail and professional investors look for the yield.”
Bristow claimed they have set funding records since lockdown – funding 60 projects. Each funded in less than one minute on the platform.
“We’re on a trajectory to continue growing as rapidly as we have done, underpinned by a highly scalable, in-house built, proprietary technology platform, scalable capital sources and deep expertise in exactly the asset class being lent against, funding hundreds of millions each year,” said Bristow. “We’re working very hard behind the scenes on a number of major company developments which will be announced in the coming 2 to 3 months – watch this space.”