2019 was a record year for our Innovative Finance ISA (IFISA), during which we accepted £10.5m in ISA investments over double that of the previous 18 months. Since introducing our IFISA in July 2017, we have attracted a total of £19.4m in new and transferred ISA funds.
Roy Warren, our Managing Director said: “We’ve very pleased to see such strong take up of our IFISA during 2019, more than doubling our IFISA business of the previous 18 months. Such consistent and reliable growth marks a strong indicator for the year ahead and I am confident 2020 will see a continuation of this growth.
“Our peer to peer loan investments offer interest rates of between 5.5% – 9% and all are eligible for our IFISA tax wrapper. This level of interest rate for secured loan investments, combined with the fact our investors can choose where their money goes and know they’re having a big impact on rural businesses, makes the FOLK2FOLK IFISA a very attractive investment proposition from both a financial and ‘feel good’ perspective.”
2019 was a year of quiet accomplishment for FOLK2FOLK, during which time our lending volumes passed £331m, our loan book growth was forecast at 18 per cent and we maintained our record for zero investor losses.
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