Proplend was founded in 2014 and offers a P2P lending platform connecting borrowers and investors directly. Loans are usually secured against commercial property already producing an income within Wales and England. The peer-to-peer lender meets funding needs of those who require financing of £5 million and below.
Borrowing from Proplend requires that the company be incorporated within the UK or hold underwriter discretion if overseas and to show the ability to provide commercial property within the UK as required security.
Financial Conduct Authority regulated and authorised, Proplend Ltd accepts diverse commercial properties as security such as residential blocks, retail, leisure, industrial, business parks, office, and marinas to medical property across Wales and England. The lender does not lend to development projects or private residential properties. Proplend offers commercial property finance to buy property, refinance or raise capital of between £250,000 and £5 million for five years at a rate of 5.5% per year.
The lender also provides commercial property mortgages. Financing of up to five years and up to a total of £5 million. Commercial bridging loans are granted for 18 months and up to a total of £5 million at a monthly rate of 0.75%. Both commercial mortgages and bridging loans are the quickest from Proplend with decisions made in a matter of days and funding completed in weeks.