A NEW peer-to-peer lender is set to launch in Ireland that will fund loans to the construction sector.
Intravia Capital will originate loans ranging between €150,000 (£135,000) and €5m for property developers in Ireland.
Investors can choose the development they lend to, with a minimum investment of €2,500.
Read more: Property underpins Ireland’s P2P sector
“What is different with Intravia Capital, is that it will be operated and managed by professionals within the construction industry alongside experienced financial professionals all under the one roof,” the company said on its website, which is still under development.
“Our policy to seek out the ‘niche’ market of quality developments with experienced developers who can deliver a quality development which can provide a reasonable return for all stake holders.”
Intravia said that the platform will be split into three risk profiles with returns ranging from five per cent to 11 per cent.
The firm holds a first legal charge on every project, making it easier to recover investors’ funds in the event of a default.
The firm was founded by engineer James Cororan, according to a report in the Irish Independent.