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1757: 371:(MPL) specializing in secured lending for business owners across the rural and regional parts of the UK. It matches businesses looking for capital with individual (retail) and institutional investors who receive a fixed interest rate from 7.5% p.a. secured against UK land or property. Investors receive the same interest rate that the Borrower pays, with FOLK2FOLK making its profit from an arrangement fee and annual renewal fee charged to Borrowers. 65: 167: 24: 253: 483:
In January, 2016, the company announced the creation of a 'legal panel' to support its national roll-out strategy. This national network of local law firms carries out the legal work necessary to complete loans in their locality and provides FOLK2FOLK with local knowledge as part of the security
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Formed in 2013, FOLK2FOLK is based on the idea that 'good folks' help other 'good folks', FOLK2FOLK enables money to be borrowed and lent based on the concept of 'fair exchange' and secured against land and property. FOLK2FOLK's stated purpose is to create prosperity for Britain's regions. Since
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FOLK2FOLK introduces people and institutions with at least £20,000 to invest to businesses looking for finance of at least £100,000. The company requires loans to be secured by land or property owned by the borrower but not the borrower's home. Investors are high net worth individuals or
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and Chief Investment Officer of Innovate UK the investment arm of the UK Government and a former CEO of Start-Up UK. In June 2022, the company appointed Gary Leitch as COO, who previously held managing director roles at Paragon and Lombard.
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According to Altfi Data: "FOLK2FOLK has seen year-on-year growth of 433% from August 2015 which compares favorably to the 60% growth of UK P2P (peer-to-peer) business lenders over the same time frame."
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FOLK2FOLK borrowers come from a variety of sectors, including renewable energy, property development, agriculture, hospitality, leisure, and tourism facilities, and land and property acquisition.
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In October 2014, FOLK2FOLK chose Crediton as the location for its first agency outside of Cornwall. The expansion has helped over 100 new homes to be built and created new jobs.
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FOLK2FOLK's Managing Director, Roy Warren, appointed in September 2019 was previously the company's Head of Risk & Loan Portfolio for four years. FOLK2FOLK's chairman is
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In August 2015, the firm introduced funding to kick start a mixed-use development project that will help facilitate infrastructure for Cornwall's 6,000-seat sports stadium.
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In February 2016, it looked to place shares in the value of £3.5m. The offer consisted of £1.5m in new shares and £2m in shares offered by the founders.
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By March 2015, FOLK2FOLK had introduced almost £50m of funding to borrowers predominantly in Cornwall and Devon.
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In February 2021, FOLK2FOLK announced its evolution from a P2P platform to a Marketplace lending platform.
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2013, more than half a billion has been invested via the platform with zero investor capital losses.
848:"Award Winning P2P Lender Folk2Folk Doubles Business in 2015. Targets National Expansion for 2016" 75: 494:
In August 2016, FOLK2FOLK moved into their new national headquarters at Number One, Launceston.
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In July 2020, FOLK2FOLK was accredited by the British Business Bank to deliver CBILS loans.
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FOLK2FOLK was founded in 2013 in Cornwall when the nation was still reeling from the
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After its first year in business (April 2014), FOLK2FOLK had secured £22m in loans.
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By November 2015, it had introduced over £75 million of funding from its lenders.
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In January 2018, FOLK2FOLK launched The Local Lending Movement and FOLKONOMICS.
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In June 2016 the company had passed the £100m milestone of loans funded.
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It aims to enable businesses to access finance in weeks not months.
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In January 2022, FOLK2FOLK announces a cumulative lending of £500m.
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In July 2020, FOLK2FOLK announced its partnership with Cross Lend.
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In May 2020, the company announced it had achieved profitability.
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In September 2019, appointed Roy Warren as Managing Director.
1626: 1542: 1376:"Folk2Folk lining up more institutional lending partnerships" 1033:"Folk2Folk exceeds £400m in lending | Peer2Peer Finance News" 961: 351: 252: 1723: 1691: 1487: 263: 1131:"Cornish Platform Appoints Financial Advisor - AltFi News" 515:
In June 2022, FOLK2FOLK appointed Gary Leitch as COO.
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In September 2019 FOLK2FOLK achieved £300m in loans.
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In August 2016, it had secured £107m worth of loans.
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In January 2021, FOLK2FOLK achieved £400m in loans.
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Unsourced material may be challenged and removed. 1350:"Ex-Paragon and Lombard MD joins FOLK2FOLK as COO" 822:"FCA Interim Permission Consumer Credit Register" 1791:Financial services companies established in 2013 1772: 962:"Folk2Folk: Local, secured peer to peer lending" 453:By October 2018 it had secured £250m in loans. 450:By August 2017 it had secured £176m in loans. 1412: 415:FOLK2FOLK is authorized and regulated by the 1450: 1226:"Folk2Folk launches local lending movement" 52:Learn how and when to remove these messages 1419: 1405: 1055:"Folk2Folk passes £500m lending milestone" 988:"Folk2Folk reaches £250m lending landmark" 1347: 233:Learn how and when to remove this message 215:Learn how and when to remove this message 149:Learn how and when to remove this message 1426: 1373: 1011: 1005: 985: 1786:Financial services companies of England 1773: 944:"Folk2Folk appoints CMO and four BDMs" 601: 543: 318:Louis Mathers, Director and Co-Founder 176:contains content that is written like 1400: 1077: 1075: 1052: 1030: 842: 840: 838: 751: 700: 1012:Neuwirth, Suzie (2 September 2019). 696: 694: 597: 595: 593: 591: 160: 87:adding citations to reliable sources 58: 17: 1325: 1031:Lloyd, Michael (11 February 2021). 777: 754:"Folk2Folk brings in Leitch as COO" 465: 13: 1144: 1072: 1053:Lloyd, Michael (20 January 2022). 936: 928:. 16 November 2015. 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