Assetz Capital has launched a one per cent cashback offer to celebrate passing the £1bn lending milestone.
The peer-to-peer lender, which provides finance to small and medium-sized enterprises (SMEs) and housebuilders, has introduced the offer for new and existing customers who invest new funds via the platform before midnight on 5 April 2020.
Investors who keep these funds invested until midnight on 6 March 2021 will then receive one per cent cashback on the eligible funds, which will be paid directly into the investor’s cash account on 10 March 2021.
“P2P lending – having started out as a financial initiative by the government to help address the huge shortfall in business lending – has now grown to become one of the most viable forms of alternative finance in the UK,” said Stuart Law (pictured), founder and chief executive of Assetz Capital.
“In the seven years that we’ve been operating, we’ve continued to see low interest rates and insufficient business lending from the banks, and there are no signs of this changing any time soon.
“Our P2P model will continue to support economic growth through UK businesses and housebuilders in 2020 and beyond, and our new one per cent cashback offer will provide a welcome boost to our investors looking for a fairer return on their investments.
“What separates us, and other successful lenders, from those who haven’t succeeded over the years, is the deep lending and business experience of our team – we don’t do tick box lending, nor lend by computer algorithms, but instead lend through career-long, real-world experience to sound borrowers.
“Having funded around one in 100 new homes built last year and supported many thousands of jobs, we have firmly established ourselves as one of most successful providers of much needed income for investors as well as being a much-needed funder of growing businesses and in turn the UK economy.”
Assetz Capital said that around half of the £1bn of lending to date has already been repaid on time by borrowers.
In January, the company announced that £100m had been invested through its tax-free Innovative Finance ISA (IFISA) accounts, of which there are currently 5,000.