A South West-based peer to peer lender is to re-launch its lending products aimed at individuals and businesses.
FOLK2FOLK is to offers 9 per cent interest rates for investors with a loan to value ratio of up to 60 per cent.
The business has so far brought £275m into rural businesses in Britain over the past six years.
Giles Cross, chief executive, said: “FOLK2FOLK is maturing as a business and our new, improved product range is testament to that. Our new rates and range of LTV present an even more attractive proposition for both borrowers and investors.
“In today’s low interest rate environment, savers and investors alike are always looking to maximise their returns. The majority of our retail investors are in the “at retirement” stage of life, where the interest they receive on their capital is often life changing and we believe that the range of opportunities we will now be able to present to our investors will further bolster and reinforce that position, helping those who lend through us to lead and enjoy the best lives possible.
“The same applies to our borrower customers. With rural businesses still struggling to access finance via traditional sources, our common-sense approach to lending continues to deliver value. By introducing some measured flexibility around our interest rates and required levels of security we’re able to help even more credit-worthy businesses access the finance they need to grow, develop and thrive.”
Article written by Josh Morris. Image and article first appeared in Insider Media on March 13th 2019. (Image taken from original article)