6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

FOLK2FOLK launches The Local Lending Movement – benefiting rural Britain through FOLKONOMICS

PUBLISHED: 12:30 29 January 2018 | UPDATED: 12:30 29 January 2018

Giles Cross, CEO at Folk2Folk

Giles Cross, CEO at Folk2Folk

Archant

FOLK2FOLK believes that simple and efficient access to finance is a major factor in enabling business success

FOLK2FOLK, the award winning, Peer-to-Peer lending platform for rural and local business, announces the official launch of The Local Lending Movement as part of its mission to help build and sustain socially and financially successful rural communities across the UK; something the company believes essential to Britain’s pre-and post-Brexit success.

The Local Lending Movement will manifest itself within FOLK2FOLK’s branding and through its behaviour and activity across the platform’s footprint, where it will seek to establish and build local networks focused on accelerating the delivery of its purpose.

Giles Cross (CEO at FOLK2FOLK) on The Local Lending Movement: “The Local Lending Movement isn’t just about FOLK2FOLK. We’ve always talked about creating our national community of Lenders and Borrowers to dynamise the rural economy, but this goes way beyond that. This is about creating ecosystems on a local level that facilitate rural business growth on the ground. It involves the participation and support, not only of our Lenders and Borrowers, but also other interested parties: our legal and accountancy partners, local authorities, MPs, Chambers of Commerce, Local Enterprise Partnerships, surveyors and land agents, local cooperatives, leisure and tourism platforms, interest groups, community associations, charities, business groups and banks – with whom we have an increasing symbiotic relationship.

We hope that by engaging all parties we will collectively help facilitate the long-term prosperity of our rural and local communities. The Local Lending Movement isn’t just about us. It’s about all of us. It’s local, focused, social activism for positive outcomes. We like that.”

FOLK2FOLK believes that simple and efficient access to finance is a major factor in enabling business success. Since its inception in 2013, the company has helped hundreds of rural and local businesses with appropriate security to grow, develop and diversify by introducing local Lenders looking for attractive interest rates: creating local jobs, increasing tourism, employing local contractors and crucially incorporating the services of local professionals. By lending locally through FOLK2FOLK’s secured loans, FOLK2FOLK Lenders are providing a vital financial lifeline to rural and local UK businesses requiring their help.

The Local Lending Movement will be built around local Chapters, the focus of which will be FOLK2FOLK’s high street branches. A launch of local chapters will occur in due course and further branch openings are planned for 2018.

Powering The Local Lending Movement is what FOLK2FOLK describe as “FOLKONOMICS™” - an economic model showing positive results across the company’s footprint.

Giles Cross (CEO: FOLK2FOLK) on FOLKONOMICS™: “In recent months and years we have repeatedly been told that trickle-down economics doesn’t work; that those ordinary, everyday people who were supposed to benefit from the financial interaction of the wealthy have lost out and been left behind. And that may be the case on the macro level, where the institutions traditionally required to facilitate the easy flow of capital are no longing playing and behaving as before.

However, we see it working perfectly on the local, micro level, where the transactions between our borrowers and lenders have an impact that is felt far beyond their Peer-to-Peer relationship on our platform. By accessing the finance for growth, development and diversification, our borrowers are benefiting their local economy and community: they are creating and sustaining jobs, they are retaining talent in non-urban areas, and stemming its tide to the cities.

The more this happens, the greater the impact: Vibrant rural and local economies attract people into those areas, new homes are built, house prices are stabilised, other local businesses benefit as a result and from being part of the inevitable supply chain; the demand for better communication and connectivity increases, local bus routes retain their relevance, local schools and services are maintained and issues of social deprivation are better tackled.

On the other side of the equation, our Lenders are earning 6.5% p.a interest on the capital they lend, often adding to their retirement income, thereby increasing their spend into the economy.

We call this FOLKONOMICS™. It’s local people making an impact on their local economy and we think it’s one answer to securing long-term economic prosperity for rural Britain.”

FOLKONOMICS™ disrupts the traditional lending model as it removes the need for institutions to fund and facilitate the financing of business loans. In many cases, FOLK2FOLK has been able to assist businesses in sectors where traditional institutions are sometimes unable to lend.

For more information, visit the FOLK2FOLK website.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

16:26

Swan Lake. We know the music, we know the iconic imagery of the beautiful ballerina dressed as a swan, but I’m guessing that without reading the libretto in the program, most people don’t know the story. Which is why the audience relies on the dancers to tell us.

Read more
11:00

Tom and Louise are being joined by other new academic appointments that have been made as part of the RAU’s £2.5 million initiative to help meet the future needs of the land management and agri-food sectors

Read more
10:46

“To win this prestigious award is a real compliment to the wider team in Renishaw’s manufacturing services operation, particularly when we consider the achievements of the other excellent shortlisted companies.”

Read more
Yesterday, 17:16

Stepping up to receive the world’s first MBA Leading Business degrees at the ceremony were Sarah Bryars, Chief Executive of Target; Luke Freeman, Joint Chief Executive of MF Freeman; and Linsey Temple, Chief Executive of Gloucestershire Engineering Training

Read more
Yesterday, 17:04

“I am thrilled to see InfoSec People win this fantastic award which is a testament to the brilliant team we have built in the past few years.”

Read more
Yesterday, 16:36

After a stress-free shopping experience browsing designer brands this Christmas? Look no further than the luxury offerings of Mailbox in Birmingham

Read more
Yesterday, 10:24

This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Mon, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Mon, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Mon, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more
Mon, 13:09

Veganism is the latest food trend to hit the Cotswolds but it’s something we can all enjoy a bite of

Read more
Mon, 12:23

Get out and enjoy seasonal celebrations with a Cotswold twist

Read more
Mon, 12:21

The weekend is fast approaching and for those still deciding how to spend their Friday through to Sunday, we pick 5 of the best ways to spend your weekend in the Cotswolds

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search