Peer-to-business lending platform rebuildingsociety.com is increasing the amount that can be borrowed through its platform to £250,000.
Previously, the largest loan available was £50,000, but because the site has now advanced a total of £340,000 to nine businesses, the platform is welcoming borrowers looking for larger amounts.
Julian Wells (pictured), rebuildingsociety.com’s marketing director, said: “Our model is proving popular with brokers, business owners and individuals who want to lend to businesses.
“In the last month we have seen a sharp rise in new lenders registering with us and feel we have the funds and lending appetite to get these deals done. I would encourage brokers who might have waited to see how we get on to get back in touch, because we’re certainly open for their business.”
Loans up to £50,000 can be supported by a director’s personal guarantee. For loan requests over £50,000, asset security or an all-asset debenture must be offered by the borrower.
rebuildingsociety.com offers a 1.5% fee to brokers who introduce deals that complete on its website.