The British Business Bank (BBB) has approved The Bank of India and Silicon Valley Bank to deliver the Coronavirus Business...
The P2PFA has added Folk2Folk expanding its membership to nine; Folk2Folk is the only P2P lender in the UK to offer regional branch offices for customers to meet with representatives; the lending platform was authorized by the Financial Conduct Authority in December 2016; it is a secured property small business lender and has lent a total of approximately £134 million ($167.28 million) to small businesses. Source
Folk2Folk is the most recent marketplace lender in the UK to receive full FCA authorization; largest P2P lender to receive the authorization with origination volume of over 125 million British pounds since 2013; allows it to seek HMRC approval for offering clients the option to invest through an innovative finance individual savings account; minimum investment for platform investors is currently 25,000 British pounds; platform provides secured loans to small businesses with property or land as collateral. Source
Folk2Folk has announced it will be using Microsoft Azure to support its loan management system; use of Microsoft Azure follows recent plans to significantly increase the firm's branch offices over the next two years; firm's business facilitates peer-to-peer lending through branch office locations. Source