Peer-to-peer finance firm Folk2Folk launches new branch in Harrogate

Folk2Folk, the peer-to-peer business lending firm, has launched a new branch in Harrogate.

The company’s new branch is aiming to introduce over £20m in finance to an estimated 100 businesses in its first year in the region.

Folk2Folk’s move into North Yorkshire is part of its national expansion plan having already established a local demand for its finance services. Harrogate was chosen based on its strong rural business network and geographic importance to other local towns and areas.

This new branch will be the fourth opening from Folk2Folk, which launched in 2013.

The new Folk2Folk branch is situated in the centre of Harrogate, making it easy for business owners and investors to locate.

Folk2Folk also works with business professionals and has already established relationships with lawyers, accountants and bankers in the region working together to provide financial solutions for their clients.

In addition, the company has established a regional legal panel in North Yorkshire that will support the expansion by providing the legal services necessary to complete the loans.

Folk2Folk is a peer-to-peer business lending service specialising in secured business loans. It enables businesses to achieve their business goals and grow by matching them with investors looking for a great return and in most cases at a local level.

Investment returns on offer range from 5.5% to 6.5% based on the LTV of the property which acts as a security against the loan.

As part of the opening in Harrogate, Folk2Folk has created three new jobs in the branch.

Jane Dumeresque, Folk2Folk CEO, said: “We are delighted to become part of the local business community in Harrogate and North Yorkshire. Our mission is to help local businesses get access to the finance they need to grow by matching them to local investors in a quick, simple and personal process.

“By establishing national network with a local presence, we can encourage local communities across the UK to invest through Folk2Folk to help local business owners prosper and thrive.

“We believe it’s always more interesting and reassuring when an investor can see what exciting project their money is supporting.

“We are determined to bring business finance back to basics by making business loans simple, fair and straightforward.”

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