rebuildingsociety joins NACFB
To date the majority of rebuildingsociety.com’s applications have come through commercial finance brokers and the platform is keen to increase its supply of deals to meet the demand of its lenders.
Julian Wells, marketing director at rebuildingsociety.com, said: “Our recent research has suggested three in five business owners don’t know what peer-to-peer lending means, but it has the potential to offer them much-needed business finance.
“However awareness among brokers of the peer-to-business product is high. Engaging business owners through brokers is a vital part of our business strategy and the NACFB is a straightforward and credible channel for getting our product in front of brokers.”
Adam Tyler, chief executive of the NACFB, said: “We recognise the ever-increasing influence of peer-to-business lending, so we’re delighted to welcome rebuildingsociety.com to the Association.
“Some of our members have already used this channel to access funding for their clients and we as an organisation are very keen to champion this type of lending to the business community as a whole.”
rebuildingsociety.com offers brokers a fee of 1.5% of the loan advance. It will facilitate loans between businesses and its community of lenders for up to £250,000.
All funding requests over £50,000 must be supported by an asset of equivalent value or a first charge over the business’ assets.