UK Bond Network to raise £750,000 for apprenticeship firm

PROGRESS to Excellence Group (P to E), an education and apprenticeship training provider, is looking to raise up to £750,000 through peer-to-peer bond platform UK Bond Network.

UK Bond Network allows investors to buy secured bonds issued by UK businesses. P to E is planning to use the money raised via the platform to support its growth within the education and training sector. It will also pave the way for further bond issues, to support possible acquisitions.

“Progress to Excellence Group is an established and profitable national business which is helping young people to gain important life skills and qualifications, all while rewarding its financial backers,” said Christopher Maule, chief executive and founder of UK Bond Network.

“Our debt funding model is ideal for facilitating acquisitions and the continued growth of P to E while providing investors with attractive returns in a low-interest economic climate.”

This is the second company that UK Bond Network has supported in the education sector. In July 2016, Scarisbrick Hall School, a mixed independent school in Lancashire, raised £500,000 through the platform in an oversubscribed bond issue.

“With our 15-year track record and strong financial position supported by government contracts, the management team has the skills, experience and commitment to continue our organic growth and capitalise on acquisition opportunities as they may arise,” said P to E’s group managing director Sandra Kirkham.

Last month, UK Bond Network agreed to lend £3.5m to Upfront Car Finance, a specialist vehicle finance provider for taxi app Uber.