P2P lending platform granted full authorisation from the FCA
Proplend has issued an announcement to inform that it has been granted full authorisation from the Financial Conduct Authority (FCA) for peer to peer lending, paving the way for the launch of its Innovative Finance ISA.
The P2P lending platform connects investors directly to creditworthy borrowers – enabling investors to earn attractive returns and borrowers to gain access to funding which is not otherwise available.
Brian Bartaby, Proplend’s Founder and CEO commented:
“After a comprehensive approval process, we are delighted to have reached this significant milestone. The granting of full authorisation demonstrates to current and future investors that Proplend’s regulatory and operational infrastructure has met with the highest standards demanded by the FCA.”
Proplend offers lenders the ability to invest in corporate loans across up to three loan to value-based risk tranches – all loans supported with the security of a first legal charge over an income producing UK commercial property.
Brian added: “We believe that the rates of return offered in even our lowest risk Tranche A (0-50% LTV) will prove very attractive to ISA investors in the persisting low interest rate environment.”
Proplend will now submit an application to HMRC to become an ISA manager and offer the Innovative Finance ISA (IF ISA) in due course.
Source: Proplend
Related Posts
P2P lending platform expands into mainland Europe with the acquisition of Zencap
Supervisory Authorities issued warnings on unauthorised companies- Supervisory Authorities issued warnings on unauthorised companies
CONSOB Italy warns for firms and websites provide investment services without authorisation- Supervisory Authorities issued warnings on unauthorised companies
