FOLK2FOLK, a peer-to-peer lending platform, has joined the Financial Intermediary & Broker Association (FIBA). As a member, the P2P lender will be able to expand its broker network for its loans.
Adam Tyler, FIBA executive chairman, said their lending partners are carefully selected, and the addition of FOLK2FOLK will be well received by their membership. He said he has been impressed with their approach to products and services and FIBA looks forward to working with their team in support of their members.
Since 2013, FOLK2FOLK has helped small businesses across the UK to access secured financing for almost any business purpose. In total, FOLK2FOLK has enabled cumulative lending of more than £593 million. Loans range from £100,000 to £10 million, with an average of around £375,000.
Roy Warren, managing director of FOLK2FOLK said they are looking forward to working closely with FIBA members, sharing the secured lending options available and providing helpful financial support to them and their clients.
“We’re keen to develop new relationships with like-minded Brokers and we invite FIBA members to come and meet us at the FIBA Annual Conference (stand 37) to find out what we can do for them.”
Folk2Folk is a unique P2P lender, one of the few remaining, that pares physical locations with technology. For investors, they can currently expect a return from 7.5% p.a. – 9.5% p.a.