FundingKnight joins forces with Alternative Bridging to provide property loans to the business community
FundingKnight, the P2B (Peer-to-Business) crowdlender, is expanding its range of loan products by linking with Alternative Bridging Corporation to provide short-term first and second charge loans from £100,000 to £500,000.
The new product leverages on FundingKnight’s unique funding structure and Alternative Bridging’s knowledge and experience of property finance. FundingKnight will identify loan opportunities through its wide network of introducers, arranging online funding by auction-based crowdlending from its investor community. Alternative Bridging will commit its experienced management to assess, secure and manage the loans from drawdown to repayment.
Loans will be available secured on retail, industrial, commercial and residential property for up to 70% of valuation for periods from three months to two years and can be repaid at any time without penalty. Interest rates will be competitive and benefit from FundingKnight’s on-line bidding process.
Alongside its new secured loan product, FundingKnight offers business loans of up to £250,000 to British businesses. Alternative Bridging provides short – term loans secured on commercial, industrial and residential property to the property industry, business community and homeowners.
Graeme Marshall, Managing Director, of FundingKnight said:
“This is a wonderful opportunity to offer our introducers a wider product range and for our lenders to enter the secured loan market benefitting from tested, experienced management from day one.”
Brian Rubins, Managing Director of Alternative Bridging, explained:
“Graeme has been known to us for some years and we look forward to extending this relationship to the FundingKnight network of introducers and lenders. We are both convinced this wider product range will benefit both companies and the business community at the same time.”