Folk2Folk announces the appointment of law firms from across the country to its new national Legal Panel representing the expanding reach of the fast-growing peer-to-peer lender.
Following the launch of its national Legal Panel last month, Folk2Folk received a tremendous response with interest from 149 law firms across the country. Expressions of interest are still being processed and 19 law firms have already been appointed to the Legal Panel.
Fundamental to the success of Folk2Folk is the company’s focus on lending within communities – helping local money work for local people and businesses. A growing Legal Panel enables Folk2Folk to expand nationally while maintaining traditional values and local focus through the local networks of law firms. Panel law firms will carry out the legal work necessary to perfect security and complete loans in their locality whilst also providing Folk2Folk with local knowledge as part of the security process.
Three recently appointed firms include Tanners based in Gloucestershire, Milne Moser based in Cumbria and Wright Hassall based in Warwickshire. All have expertise in the rural and agricultural sectors, and are therefore well aligned to support Folk2Folk in building on its successes to date.
“These appointments are in areas where the Folk2Folk financial solution can make a real difference to businesses,” said Jane Dumeresque, Folk2Folk CEO. “All three firms embody what we are looking for in a Legal Panel firm namely: proactivity and responsiveness coupled with deep connections with their local area and into rural communities in particular.”
“Milne Moser is a dynamic firm with an appetite for innovation and new business models and we saw striking synergies between us. While Wright Hassall is attractive to us because of its 170 year heritage and deep roots within the community and, in particular, the agricultural sector. Their abundant expertise in secured lending will ensure the quick commercial approach that we expect from our Legal Panel. And Tanners is a firm deeply embedded in their local community who are familiar with Private Mortgages and P2P lending so really understand the benefit of Folk2Folk’s offerings.”
Many of the appointed Panel firms have already received their first instruction.
Justine Allen, a Partner at Milne Moser, said: “We are delighted to be working with Folk2Folk. Not only is their peer-to-peer lending facility an excellent alternative to standard bank borrowing, but it provides a great investment option for those who have money in the bank making little, or no return. The fact that Folk2Folk endeavour to match borrowers and lenders in the same geographical area and thereby keep money in the local community is commendable and something that we are very proud to be associated with.”
Such has been the strength of interest from law firms across the country that Folk2Folk expect the number of firms appointed to the Legal Panel to expand significantly over the coming months.
Folk2Folk is continuing to invite expressions of interest via its website: www.folk2folk.com