The UK government has today launched a peer-to-peer business lending platform called ‘Boris and Buddies’, backed by Russian institutional investors.
Prime Minister Boris Johnson (pictured) has said that the new firm will support “superlative” UK businesses to thrive post-pandemic.
There is a minimum investment of just £250,000 to ensure that everyday investors can access inflation-beating returns, Johnson said.
Boris and Buddies will be headquartered at Barnard Castle in the North East and will employ vision-impaired staff to support diversity and inclusion.
Daylesford Organic will be the official canteen supplier and the office will be designed by Lulu Lytle.
Johnson said that the company’s logo will comprise 28 Union Jack flags to represent his vision for the firm.
Former Prime Minister David Cameron will be head of loan originations, following his experience in lobbying on behalf of collapsed financial services firm Greensill.
And home secretary Priti Patel, who recently settled a civil servant bullying case, will be in charge of collections and recoveries.
However, the platform has already come under fire after its chief financial officer Rishi Sunak decided to pump free money into it.
“It’s fine, we can always print more, or just get it off my father-in-law,” Sunak allegedly said.
Boris and Buddies is planning a “world-beating app” for its customers that critics have warned is likely to be delayed for several months. One of the platform’s first loans is said to be for a business providing £10 worth of free school meals that look to be worth no more than £2.50.
“We’re going to be the best of the best,” a spokesperson from Boris and Buddies said.