LONDON, August 10, 2016 /PRNewswire/ --
Peer Funding Limited is pleased to confirm that the Financial Conduct Authority has granted us full permission to operate an electronic platform in relation to lending under Part 4a of the Financial Services Marketing Act.
Peer Funding Limited joins only a handful of fully authorised peer-to-peer business platforms. Unlike many existing platforms, Peer Funding Limited has not been trading under interim permission and has been granted this authorisation after completing a full application process.
This authorisation allows Peer Funding to launch a new and differentiated platform in the UK peer-to-peer business debt funding sector in the autumn of 2016.
Peer Funding Limited will offer new choice to both investor and borrower with a range of products on a single platform, to include:
Business Loans 6 - 60 months Secured Business Loans 12 - 60 months Selective Invoice Finance 30 - 120 days Selective Debtor Finance 30 - 120 days Property Bridging Loans 3 - 12 months Property Development Loans 3 - 18months
Peer Funding Limited is backed by a management team with over 100 years experience in UK financial services, predominantly in the business and alternative finance sectors.
Risk and Compliance Director, Roger Smith, says
"Gaining full authorisation from the FCA to operate a p2b platform is a significant milestone and achievement for Peer Funding Limited. It has taken considerable effort to get to this stage. Unlike many of the existing players in this market who are trading under interim permission, the service offering from Peer Funding Limited has been built from the outset with regulation in mind giving the company a solid base from which to operate and setting up a well-defined framework from which to grow.
Peer Funding welcomes regulation and the integrity to it brings to our market. We look forward to bringing our wide ranging products and compelling service to both business borrowers and investors alike."
The website http://www.peerfunding.co.uk is currently displaying in "coming soon" format, allowing interested parties to register for early bird investor offers and to download both investor and borrower brochures.
SOURCE Peer Funding Limited