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Peer2Peer Finance News | August 21, 2017

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Ablrate considers expansion into debt securities

Ablrate considers expansion into debt securities
Marc Shoffman

ABLRATE is considering offering debt security investments as it approaches its third anniversary of lending.

The secured business lender, which started in 2014 by offering peer-to-peer aircraft leasing, has since grown to £24m of completed loans, paying £1.9m in interest.

The platform went live on 7 July 2014 and registered its first lender on 18 July 2014.

It has since expanded into capital equipment and property, targeting 10 per cent returns and chief executive David Bradley-Ward said there are big plans over the next year.

“We aim in the coming year to bring you some new products, we are looking at varying our authorisation permissions to be able to bring you debt security options for example, and we also want to be able to offer products that pay better than the savings rate and have flexible access,” he said in a note to investors.

“Our main focus however, is on bringing more of the loans we have become known for: great returns, security and quality borrowers.”

Ablrate gained full Financial Conduct Authority authorisation in March and gained ISA approval from HMRC the following month.

The platform said last week that it was still testing its Innovative Finance ISA (IFISA) product.

Once launched, Ablrate’s IFISA will offer the same returns as the platform’s standard product.

The IFISA will be flexible, meaning that investors will be able to withdraw and replace money in the wrapper within the same tax year.