Undeniably, 2019 has been a year of political and economic uncertainty for the nation and a year of turbulence and significant evolution for the P2P industry. For FOLK2FOLK, it has been one of positive change and quiet accomplishment. Here’s our round up of achievements for the year…
- FOLK2FOLK’s lending volumes reached a cumulative total of £331m.
- Projected loan book growth of 18%
- We completed our largest deal to date, a £10m loan
- Roy Warren, FOLK2FOLK’s Head of Risk & Loan Portfolio was appointed Managing Director
- We opened up our P2P investment platform to institutional lenders and registered our first local authority lender: Cheltenham Borough Council.
- We welcomed the Financial Conduct Authority’s introduction of much needed new stringent rules for the P2P industry. As a firm who takes regulatory responsibilities seriously, we met all requirements ahead of the deadline.
- We’ve remained focused on maintaining low default levels and minimising Lender losses and at time of writing have not sustained any Lender losses.
- Won the ‘Small Business Loans Provider of the Year 2019’ award (Global Business Insight).
- Celebrated five years of having a high street presence in Devon.
- And lastly we confirm, that while some P2P platforms have announced they will no longer be offering investments to retail investors, we remain a person-to-person lender and will continue to matchmake individual everyday investors with loan investment opportunities, as well as institutional Lenders.
It is thanks to our ecosystem of customers, partners and friends, that collectively we’re able to provide a much-needed lifeline of finance for local and rural businesses, as well as provide investment opportunities for individuals and Institutions. And we are always heartened to see evidence of The Local Lending Movement’s positive impact on local communities and rural economies.