Cardiff based business, Funding Empire, is all set to bring Wales forward into the crowdlending era. Not only are they Wales’ first crowdlending platform, but they are the first in the UK to offer start-ups and established businesses the opportunity to apply for lending.
Managing Director of Funding Empire Parag Patel said “We set the business up as a result of seeing small businesses struggle to get much needed finance using traditional routes of funding. We also recognised that savers were getting very poor returns on their money in savings accounts. Our model tackles both of these problems head on and puts the power back with the crowd. We believe that all businesses should be able to apply for a peer to peer loan.”
When asked his views on the crowdlending sector as a whole he replied: “The democratisation of finance and investment is changing the way companies and investors do business. We feel this is very much needed given the current economic climate and the banks view on lending to SME’s.”
Ian Crocker, Compliance Director said, “The upcoming regulation of the sector, by the FCA next year, will enhance the credibility of crowdlending in the finance sector. With myself and our legal team at JMW Solicitors on board, we feel we are very well placed to the welcome the proposed regulations with open arms.”
Funding Empire offers all start-up’s that successfully in achieve funding, a level of free mentoring and support to maximise their chance of success. They are also unique in the fact that they allow businesses of all entities; from sole traders, partnerships, limited companies and LLP’s to apply to them directly.
The company is currently working with a number of enterprise organisations including the University of South Wales and Cardiff Metropolitan University, to help businesses access finance more easily.
The company prides itself in the fact that all the directors and shareholders are Welsh and where possible the company uses Welsh businesses to provide its required services, making the company’s roots entirely based in Wales.
“Current stats show Wales is not using crowdlending nearly as much as the rest of the country.” says Patel. “We feel this is mainly due to lack of awareness of the sector in Wales and the benefits it can bring both lenders and borrowers.”
Funding Empire aims to change this by putting on a series of Introduction to crowdlending events in Wales over the coming twelve months to raise the profile of their platform and of the overall sector.
For more information about Funding Empire please visit: www.fundingempire.com