Crowdfunding accountants: Invest in abacus Franchising

abacus franchising logo

New loans are now live on the FundingKnight website, offering the chance to start investing in abacus Franchising.

Abacus is a national network of qualified accountants, supporting small businesses in all aspects of accountancy and taxation.

There are two separate auctions providing a chance to invest in British business:

1 – year loan of £20,000

3 – year loan of £30,000

Each loan will be crowdfunded, using the FundingKnight investment community to attract investors.

You can start investing with as little as £25 and peer to peer lending is fee free with FundingKnight.

To lend to British business you need to register as a FundingKnight investor.  Once that’s done, you simply log onto www.fundingknight.com and choose Find a Loan to start investing.

You decide what to invest in, you decide the rate that you want to bid and you have the chance to access your cash whenever you need it by selling or all or part of your investment to a new lender via the FundingKnight loan exchange.

Read about the abacus loans below, or for full financial analysis and information log onto the FundingKnight website.

Business seeking funding: abacus Franchising Company Limited

Loan 1:

Amount: £20,000

Period:  1 year, repayable in 12 installments

Loan 2:

Amount: £30,000

Period:  3 years, with a 3 month repayment holiday

Auction duration:

Fast track auction of up to 14 days, to close when both loans have been filled at the reserve interest rate.

Reason for loan:

Expansion, following new contract awarded by Scania GB.

Business background:

Incorporated in 2004, abacus has developed a national network of qualified accountants who support SME businesses with all aspects of accountancy, taxation and administration functions.  The network has over 3,000 clients. Its collective fee income would make it one of the top 100 accountancy firms in the UK. Abacus is the only national accountancy franchise for qualified accountants approved by the British Franchise Association.

The loan is to provide finance to support the expansion of the business following an award of a new alliance with Scania GB to provide services to its customers.

Find out more, or search for new loan opportunities by registering as an investor with FundingKnight.

Peer lending and Crowdfunding praised by Bank of England’s Andy Haldane

the Bank of England

Perhaps an industry knows it is on to something when someone who confesses to being “congenitally pessimistic about most things in life” admits to being really optimistic about its future… Certainly, the latest comments from Andy Haldane, director of financial stability at the Bank of England will be music to the ears of peer to peer lenders in the UK.

Speaking to the Independent in an interview published today, Andy Haldane told Margareta Pagano of his bright hopes for the future of crowd lending:

“It’s a time of opportunity knocking for finance.  Hopefully, the growth of peer-to-peer lenders, such as Zopa, Funding Circle and Thin Cats, and those involved in crowd-funding, such as Crowdcube, will help solve the problems we have in the UK with lending for SMEs.”

Haldane went on to explain how he thinks online technology has “the potential to transform finance and fill the gap left behind by the big high street banks which have little appetite for taking on risk in lending to SMEs.”

You can read the full article “Bank supremo: Peer-to-peer lending is a good reason to be cheerful” in the Independent, or start peer to peer lending yourself by registering as a lender at FundingKnight and taking part in one of our live peer to peer loan auctions.

 

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An introduction to peer to business lending – part 1

introducing...

FundingKnight is delighted to be spreading the crowdlending message over at Smart Accountancy Systems blog this week.

Peer to business lending (P2B), also known as crowdlending, crowdfunding or peer to peer lending is a relatively new way for businesses to access funding and business loans.

Put simply, a business applies to borrow some money via a P2B website or online marketplace.  Their application is credit checked and analysed and, if successful, offered up to the general public using a P2B Lending platform to share details of the loans on offer.

Everyday savers and investors bid to participate in loans, each contributing as much or as little as they choose, so that one business loan is made up of lots and lots of little loans from individual savers.

Businesses benefit from a new source of business finance and savers get a chance to make their money work harder.

So how exactly does peer to business lending work?  Where did it start and what are the key things to be aware of?

Continue reading the full post at Smart Accountancy Systems.

FundingKnight Likes…Bristol Pound

Bristol harbour at night

This week FundingKnight are shouting out about another fantastic local enterprise and one that has been attracting international attention, the Bristol Pound.

Recently launched on 19 September 2012, Bristol Pound is a new local currency, yep that’s right, you guessed it, just for the city of Bristol.  Bristol Pounds can be bought in the city and used at over 350 Bristol-based companies, which unbelievably, makes it the UK’s largest alternative to sterling.

The idea behind the currency is to get residents to invest their cash into local businesses rather than spending money with large multinational corporations, where money drifts all around the world, lining the pockets of businesses unbeknownst to you. By investing in and spending Bristol Pounds as you do your shopping, ordering things online or paying for meals out, you are keeping your cash in local pockets, boosting the neighbourhood economies and supporting those businesses who are part of the network.

Supporting the local marketplace means more independent traders are able to thrive as more money is spent locally. More independent business makes Bristol a better, more interesting and more creative place to live, which in turn improves the quality of life of the people that live there. What’s not to like?

Not only will residents be helping to grow their community but they can also invest sterling into Bristol Pounds and receive a 5% bonus (up to £100,000), not a bad deal when you think about the current offers available at your average high street bank.

The transactional process is easy. Members can spend Bristol Pounds in three ways: online, mobile and actual paper money. All methods are secure, easy to use and readily available to purchase at multiple locations in Bristol. Beautifully designed notes bearing local artists’ work feature a secure hologram, gold foil and laser-etched security numbers to prevent counterfeiting. The entire operation is backed and underwritten by Bristol Credit Union, a regulated financial institution and Bristol Pound is a not-for-profit organisation.

As a champion of all things local, community and sustainable, FundingKnight likes Bristol Pound a lot. It may be small change, but it can make a big difference.

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