Great news! We have agreed to fund what constitutes our largest loan so far, a £2,335,000 total loan facility to finance the acquisition and redevelopment of an office building in Stafford into 23 residential apartments. This is a huge milestone for Blend Network and we wanted to personally inform you and thank you for your support.
The first tranche of the total loan facility was a £900,000 loan funded in just over 24 hours last week. We know that many of you rushed to lend quickly on this 10% return p.a. loan which was taken up by 100 speedy lenders. Congrats on securing your piece of this loan. If you missed it, don’t worry as we have some more exciting loans coming soon.
The borrower has already drawn down the funds and was very impressed by the speed and quality of the service provided by Blend Network. He and his team are now hard at work to deliver 23 beautiful, much-needed new homes in this part of the Midlands.
On behalf of the borrower and ourselves, we wanted to thank you once again for your support. Together, we have so far lent just under £10 million and retuned an average of 11.10% to investors [1]. We look forward to having you onboard in our future loans. Keep an eye on our pipeline of exciting new loans and should you wish, transfer money to your account now so that you are ready to lend as soon as the next loan is listed.
Your capital is at risk if you lend to businesses. P2P lending is not covered by the Financial Services Compensation Scheme. Investments are illiquid (the inability to sell assets quickly or without substantial loss in value). Past performance is not a reliable indicator of future results.
Check out Blend Network’s recent press coverage:
- FT Advisors: Call for review of Sipp rules to consider emerging assets
- The Telegraph: Research by Blend Network featured in The Telegraph
- Euro News: Blend Network’s CEO comments on new FCA rules
- The Mirror: Blend Network’s CEO comments on new FCA rules
- Wealth Briefing: The Gender Investment Gap And How To Bridge It
- P2P Finance News: Blend Network calls for more P2P lending education
Check out Blend Network’s recent award shortlistings:
- Shortlisted for P2P provider of the Year at the Moneyfacts Consumer Awards 2020
- Finalist for Best P2P Business Lender at the Growth Finance Awards 2019
- Finalist for Specialist Lender of the Year at the Growth Finance Awards 2019
- Finalist for Best Investment in Fintech at the UKBAA Angel Investment Awards
[1] Information accurate as of 11th October 2019. Please visit www.blendnetwork.com/pages/statistics
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