As investors’ appetites for its services increase, peer-to-peer lending platform Blend Network has highlighted some recent developments in its business which indicate positive results as well as continuing demand.
Last week (9 February) the business funded tranche 4 of a £1,950,000 total lending facility to finance the final part of construction works of an office building in Stafford into 27 apartments. The loan was funded by 59 investors in less than 1 minute. The following day (10 February) they funded the second loan tranche of a £700,000 total lending facility to finance the remaining construction costs of one detached house and eight apartments in Camborne. The loan was funded by 59 investors in less than 1 minute. Since the start of December last year, lenders on seven Blend Network loans got repaid receiving their invested money plus interest. Four of these loans had 9% return p.a. and the remaining three had 8% return p.a. The average interest rate of the loans listed in the Blend Network platform in 2020 was 9.14% p.a.
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