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Peer2Peer Finance News | October 24, 2017

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Ablrate IFISA takes off with almost 100 investors in first two days

Ablrate IFISA takes off with almost 100 investors in first two days
Marc Shoffman

ALMOST 100 investors have signed up to the Ablrate Innovative Finance ISA (IFISA) in the first 48 hours of launch, the peer-to-peer business lender has revealed.

Ablrate launched its IFISA on 2 August and says many users are new customers.

A note to investors also said ISA transfers would be allowed shortly.

Read more: Ablrate considers move into debt securities

The platform said there is a healthy pipeline of around £3m of loans for investors to fund, while the website will also soon be redesigned.

The asset-backed business lender launched in July 2014, specialising in funding leasing for aircraft transactions.

The platform, which has since expanded into capital equipment and property offers investors annual returns ranging between 10 and 14 per cent, giving potential for “significant risk adjusted returns” from the IFISA, the platform said.

The tax-free wrapper is a self-select product, whereby investors can choose which specific loans they want to fund. The IFISA is also flexible, meaning that investors can withdraw funds and deposit them back within the same financial year, without affecting their allowance.

Read more: Plane sailing for Ablrate as platform gains FCA approval