A boutique Cornish company is taking a sizeable chunk of the fast-growing peer to peer lending market, having surpassed a major milestone this month. Folk2Folk in Launceston, has lent over £30 million to individuals, businesses and community groups in Devon and Cornwall since its set-up in 2013.
Despite a small high street branch operation, Folk2Folk says the level of business being done from the market town is not to be underestimated. With many of its investors coming from a 40 mile radius, and walking in from the high street, Folk2Folk believes customers are seeking a return to traditional values, in the old style of private mortgages.
Managing Director David Brown said: “Our success in the sector alongside competitors is substantial, considering our relatively small footfall from the high street. Yes, people shop around for competitive rates, but they also want to entrust their funds to a human being they can meet in person, and this is where we’re different from other peer to peer investment opportunities.” “Our lenders can sit down with us and know their money is helping out the local economy, and they’re also grateful to be able to pick up the telephone – websites and call centres cited as a common frustration. That, along with our local knowledge, seems to be a winning formula over companies which don’t have a personal service any more.” “The lending opportunities with us are secure and not one single repayment has been missed by borrowers.” “We’re happy to have achieved the £30million mark and, by maintaining our values and high levels of customer service, Folk2Folk will reach £60million in the next 12 months.”
Telephone 01566 773296 to find out more or complete an online application now.