Alternative finance provider boosts lending by 334%
By Jordan WilliamsHNW Lending has announced that it lent £14.4m in 2016, 334% more than in 2015
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The company’s lending in Q1 2017 hit £5.8m, 242% higher than Q1 2016.
Since the lender launched in April 2014, it has lent well over £30m – comprising over 175 loans – with no loss of capital or interest.
HNW Lending’s funds are provided by founder and director Ben Shaw and other high-net-worth backers.
“A number of high-net-worth individuals have been struggling to raise funds from banks, but many of their valuable assets – such as classic cars and property – have been rising in value, which has made it easier for them to use this as collateral to secure loans,” added Ben.
HNW Lending is currently looking to increase the amount it can lend after receiving HMRC and FCA authorisation to offer the Innovative Finance Isa.
Keywords: Alternative finance, short-term finance, HNW Lending, Ben Shaw, asset lending, high-net-worth, specialist lending, lenders, brokers, intermediaries, distributors, HMRC