Assetz Capital targets £1 billion in annual lending

Assetz Capital is set to hit £1bn in lending this year and £1.5bn in 2023.

An upbeat report from the peer-to-peer lender says the platform is expanding home lending and aims to be responsible for financing a quarter of the UK’s small and medium-sized enterprise (SMEs) built homes over time.

The report, which highlights the role of the platform and its lenders in society, claims that around £2.5bn of new homes have been funded by Assetz companies since 1999, helping 1,100 SMEs.

Of this, £1.5bn was funded through Assetz Capital.

The report adds that Assetz Capital has lent £330m to UK SMEs under the coronavirus business disruption scheme.

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It says 40,500 personal lenders are now also registered with Assetz Capital and its real estate crowdfunding platform Assetz Exchange.

According to the report, the platform and investors are helping to revitalize the SME homebuilding community from a low of 2,500 companies to 10,000+, while supporting employment and the creation of 50,000 additional serviced residential and care properties by Assetz Exchange.

Stuart Law (pictured), chief executive officer of Assetz Capital, said the group’s companies have experienced three periods of “major challenges and changes in the real estate, financial and business markets” since 1999.

These include falling savings and pension interest rates, rising inflation, a decline in banking and housing shortages.

“Each economic cycle has brought about a shift in the fundamentals of our world; of institutions and conventions that had previously gone unchallenged,” Law said.

“Against this backdrop, the time has presented an opportunity to reconsider our way of life that no longer serves us.

“It’s part of the Assetz Group’s agile DNA as a company – we’ve always looked for new, better ways of working. We were born out of a desire to solve these important social issues, and we exist to bring investors together with companies to address these challenges and achieve fairer growth for all.”

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