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HomePeer to Peer LendingFolk2Folk traders earned £14.2m final 12 months

Folk2Folk traders earned £14.2m final 12 months

Folk2Folk’s investor neighborhood earned £14.2m in curiosity throughout the 2022/23 tax 12 months, the corporate has confirmed.

The lender – which is the biggest P2P platform within the UK – stated that the determine highlights Folk2Folk’s “dedication to fostering monetary progress for each traders and small companies alike.”

“We’re thrilled to witness the outstanding success of our traders, who play an important position in fuelling financial progress inside native communities,” stated Roy Warren, managing director of Folk2Folk.

Learn extra: Warren: “Not all P2P is high-risk funding”

“Our platform’s ethos has at all times been centred round connecting folks and enabling funding in a clear and impactful method.

“This milestone highlights the worth of our method and the optimistic outcomes it delivers.”

Because it was based in 2013, Folk2Folk has funded greater than £628m in enterprise loans, backed by property or land. Buyers can earn returns of 8.75 per cent or extra, and all investments may be shielded from taxation via an Progressive Finance ISA.

Learn extra: Folk2Folk experiences fourth 12 months of revenue and recommits to retail

The platform famous that its traders have contributed to job creation, rural growth, and the general vitality of native economies.

“As Folk2Folk seems to be forward, it stays dedicated to its mission of supporting native companies whereas delivering compelling returns to its devoted investor neighborhood,” stated an organization spokesperson.

“The platform’s method to lending, mixed with its emphasis on making a optimistic influence on Britain’s regional economies, positions it on the forefront of accountable finance.”

Learn extra: How platforms have tailored to the variable economic system



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