Did you lend to Verto Homes? September industry news
Top notch coverage in the Financial Times last week as the European Investment Bank discussed their plans to work with us. They are preparing to lend £100 million through our platform, and believe our model is a dynamic way to channel government-backed funds for small businesses. The EIB were quoted saying: “This is an interesting direct model for supporting small businesses, which has the potential to be quite efficient”.
In this article, Kathryn Hopkins discusses the battle with the banks as a house building business, Verto, struggled to access finance quickly in order to build homes in Newquay. After turning to Funding Circle, it took only three weeks to secure their first loan, and they are now building 21 homes in the area. To date, your lending in the property sector has mainly gone towards funding residential developers, such as Verto Homes, who specialise in building eco-homes in Cornwall. Read more about these types of loans on our blog.
Across the pond, we announced an exciting new partnership with Block Small Business, giving thousands more small American businesses greater access to finance. Our agreement will mean that Block Small Business will refer small business clients looking for finance to Funding Circle. We believe that by working in partnership, we can help more small businesses grow, and bring investors more lending opportunities on the marketplace. More coverage found here.
Following the new pension freedoms introduced earlier this year, pensioners now have many different ways to maximise their retirement income, depending on what they want to achieve. This interesting article from the Telegraph looks at the ‘drawdown’ route and examines different types of funds available. Alongside these funds, marketplace lending is listed as another option to earn an attractive return.
And finally, Funding Circle was ranked as one of the hottest fintech companies in Britain. We are very pleased to have this recognition, as it means we are truly making a difference to investors and small businesses across the UK, and it’s all thanks to your lending. We were also spotted on the Tech Track rank list, which you can read here.