The Bristol-based lender reaches a total of £700m

Peer to peer lender FOLK2FOLK has passed the £700m lending threshold, cementing its position as the UK’s largest small business lending platform of its kind.

Since its launch in 2013, the South West business has connected hundreds of local businesses with investors, offering loans from £100,000 to help those businesses start, grow and diversify in every region of the UK.

Meanwhile, investors enjoy the security of property-backed investment opportunities that offer attractive returns – currently from 8.75% per annum – and a track record of zero capital losses to date.

FOLK2FOLK, which is based in Cornwall and Gloucester, said reaching the £700m loan milestone highlighted its commitment to encouraging and supporting regional growth by bringing together small businesses and investors, resulting in a positive impact on local economies in the UK.

Roy Warren, managing director of FOLK2FOLK, said: “This achievement is a testament to the trust and support of our borrowers and investors and reinforces our mission to help create prosperity in the UK.

“We remain committed to providing fast, flexible and friendly lending solutions that enable local businesses to thrive.”

Mr Warren said FOLK2FOLK’s approach to lending involved property-backed loans and a personalized lending process.