Growth Of A P2P Bridging And Development Finance Platform
There are many providers of bridging and development finance in the UK and, here at Commercial Mortgage Link, we are able to introduce you to a broker who has an extensive portfolio of lenders at his or her disposal one or more of whom may be suitable for your purposes.
Over the years, there has been an increase in the number of providers of P2P lending platforms. Initially, they were for personal borrowers and investors but more and more platforms have come on the scene offering to put investors in touch with businesses seeking various types of finance such as business loans, commercial mortgages, bridging loans and development finance.
The days of businesses merely approaching the bank where they kept their business current account for a loan have long gone. Nowadays, there are so many financial institutions offering to help businesses by providing a loan or mortgage.
For instance, a P2P lender by the name of Lendy Ltd came on the scene in 2012 and has grown quite rapidly. It specialises in providing bridging and development finance and it processed its first loan in January 2013 for £30,000. By October 2014 it had processed loans totalling over £10 million. Twelve months later the amount advanced had reached over £50 million. By October 2016 the lending portfolio totalled £220 million. By October 2017 the figure had grown to £338 million. In July of this year the amount lent had reached just over £400 million.
Of course, as mentioned earlier, there are numerous lenders, in addition to P2P lending platforms, that provide various types of finance for businesses of all sizes whether it is a sole trader, partnership or large corporation. So, if you are looking for a competitive lending package for your business, why not get in touch with us and we will arrange to introduce you to an experienced commercial lending broker who will discuss your requirements and do all that he or she can to help.