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Bank Lending

FundingKnight doubles loan ceiling to £500,000 to match demand

By CreditMan Wednesday, January 14, 2015

P2P business lending specialist FundingKnight has doubled its maximum loan size to £500,000 with immediate effect. The decision to raise the limit reflects borrower demand from the market place and will extend across all current and pending products, including business loans, property bridging and finance for renewables.

Commenting on the move, Chief Executive Graeme Marshall said: "Our decision was taken in light of the demand we are experiencing in the market place from our existing and potential clients and from the professional intermediary community. Apart from widening our appeal and consolidating our position, it sends a powerful message out to the market about our expanding capacity for arranging business loans."

"We achieved a major milestone at the end of last year when the number of borrowers topped 100, representing around £10m of lending. We are looking forward to expanding our offering for both investors and borrowers during the current year and beyond as the growth in the alternative finance market continues to gather pace."

Southampton based finance website FundingKnight is one of Britain's first peer-to-business lenders offering a great source of business finance that also helps investors make their money work harder.