Folk2Folk has signalled that it is on track to double its profits this year.
The rural peer-to-peer business lender said its pre-tax profits for the first half of 2021 were £943,000.
This is just short of the £1.1m profit it posted for 2020.
Roy Warren (pictured), managing director of Folk2Folk said the company was now on track to double its profit figures.
“We’ve had a tremendous year so far, with the first half delivering a profit not far off that for the full year last year,” Warren said.
“A big contributor to these results, has been a strong summer.
“Traditionally summer is notoriously low performing, but we’ve had a terrific few months helping lots of businesses get the funds they need, and August is set to be our second biggest month of 2021 with about £12m in loans.”
Warren said Folk2Folk has lent more than £460m across regional Britain and is rapidly approaching a half billion in lending.
“This is enabling hundreds of business owners to crack on with their growth and diversification plans as the country emerges from the pandemic and Brexit,” he added.
“Looking at our pipeline into the winter months, I’m confident we’ll be helping even more businesses which will continue our current growth path.”