rebuildingsociety.com opens up borrowing criteria

Robyn Hall

May 9, 2013

The site has now advanced a total of £340,000 to 9 businesses and the platform is looking forward to welcoming borrowers looking for larger amounts.

Julian Wells, rebuildingsociety.com’s marketing director, said: “Our model is proving popular with brokers, business owners and individuals who want to lend to businesses.

“In the last month we have seen a sharp rise in new lenders registering with us and feel we have the funds and lending appetite to get these deals done. I would encourage brokers who might have waited to see how we get on, to get back in touch because we’re certainly open for their business.”

While loans up to £50,000 can be supported by a director’s personal guarantee, loans over £50,000 must be secured on an asset or an all-asset debenture must be offered by the borrower.

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