A successful Cornish company, Folk2Folk, which has seen exponential growth in its first 18 months has got counties across rural England in its sights as part of exciting new expansion plans. Folk2Folk, a people to people lending company which offers private mortgages with a difference, has raised over £30million in loans to benefit the South West economy, whilst giving private lenders a competitive 7% return on their capital.
Folk2Folk is leading the way in alternative finance, matching lenders with the right borrowers through its boutique high street presence throughout the South West. As part of its success, the organisation is rolling out a dynamic and rapid growth program across the UK and is seeking suitable towns to open additional branches.
“What we have found to be the magic ingredients”, says Managing Director of Folk2Folk David Brown, “are the people, the premises, and the location.” “Once we have found the talented individuals with backgrounds in finance, we are looking for a strong sense of community in the town, similar to that of Launceston our head office where we have strong networks in farming and agriculture, property development, renewables and business – and we hope to find other market towns with similar attributes. “We know we will really strike gold if we can find this combination of factors along with a vacant bank or building society premise, and talented bank and building society managers to make it a success.” “What will happen next is that we will move very quickly to make it happen.”
Many customers choose a high street branch over online peer to peer lending competitors, because of a face-to-face connection and the local knowledge staff can offer. In research published by Cognizant recently, 43% of borrowers cited branch availability as a first priority for them. Folk2Folk will investigate towns throughout the UK over the coming weeks and is asking for talented bank and building society personnel get in touch and spread the news through their contacts. For more information, contact Naomi Lang on langn@FOLK2FOLK.com or 01566 773296. To find out more about lending or borrowing with Folk2Folk visit www.folk2folk.com.