Blend Network reveals that it listed and funded some of their biggest loans, “helping build much-needed homes across the UK.”
In June 2021, Blend listed and funded three different loans, which should help fund the construction of 40 residential units in total across East Sussex, Northamptonshire, and Dorset. Overall, the loans the platform “funded in Q2 will help with the construction of 69 much-needed residential units and two 6-bed HMOs in seven different locations across the UK,” the platform’s management confirmed.
They also revealed:
“We agreed funding for our largest-ever project, a £3,460,000 total net facility. The first tranche of this facility, a £1,100,000 loan, was funded by 279 investors on the 1st June. We won FinTech Business of the Year at the UK’s leading tech awards, the GoTech awards. This was an outstanding achievement for us and a highlight of our year so far.”
The Blend Network team further noted:
“We were selected as runners-up in the ‘Development Lender of the Year up to £10m’ category at the lending industry’s biggest awards, the Bridging & Commercial Awards. We were approved by the Financial Conduct Authority (FCA) for Direct Authorization, another huge milestone for us at Blend Network, especially considering that only a handful of platforms have been approved over the past couple of years – a lot more used to get approved each year prior to 2019.”
During Q2 2021, a total of 1,052 registered Blend Network investors “lent on our loans,” the platform’s management revealed while adding that in June alone, “close to 600 lenders got the chance to lend on the loans we listed.”
The P2P lender says it would like to thank all their lenders and borrowers for their support in what’s been a great first-half of the year for the service provider.
As covered recently, Blend Network has explained how their secondary market is designed to help investors.