The Funding Club to woo advisers at launch
NEW peer-to-peer lending platform The Funding Club is launching in Yorkshire.
TheBusinessDesk.com and The Funding Club are inviting key advisers to the launch on November 20 at Angelica’s, Trinity Leeds.
The club platform connects experienced, ultra-high net worth investors (HNWIs) with businesses and the property industry.
It says it will provide higher value loans than most peer-to-peer lenders from a small network of investors, improving the turnaround time for applications and providing certainty to borrowers.
The Funding Club will target established businesses which need to invest for growth and also provide short-term bridging loans to property developers.
The club’s founders say that a restriction on funding available from High Street lenders to SMEs and for speculative development across the property sector created a gap in the market filled by peer-to peer lenders.
But many of these focus on small, or early stage businesses and the sums raised are generally low – typically less than £100k. The networks may have thousands of registered funders.
The Funding Club says it has identified the need for an alternative – a network aimed specifically at ultra-HNWIs, informed, sophisticated and capable of making quick decisions.
It aims to create a data base of around 60 ultra-HNWIs and present opportunities to them based upon their own skill sets, experience or stated preferences.
It stresses that although it has identified the property sector as a key focus for the business, it intends to offer funding to other business sectors, subject to available security.
The Funding Club has obtained interim permission from regulator FCA to provide debt solutions and is currently in the process of obtaining the necessary permissions to provide equity funding.
The Funding Club event on November 20 starts at 6pm with registration. For more information click here .
Places are limited and will be allocated on a first-come-first-served basis.
To register please email gurmukh.bhurjee@thebusinessdesk.com
