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FundingSecure

FundingSecure is a new financial organization which has managed to combine the centuries-old principles of pawnbroking with modern-day peer-to-peer lending. The result is a unique lending system which delivers bank-beating return to savers, and flexible and affordable financing for those who cannot obtain a bank loan.

FundingSecure is what we’d call 21st century pawnbroking. Loans range from £500 to £100,000, repayable at the end of six months. Savers can invest in as many loans as they wish, with a minimum investment per loan of just £25. Borrowers need to hand over a valuable personal possession – whether it’s a piece of jewellery, art or a luxury watch. The item is insured during transportation, valued by independent auctioneers, and kept safe until the loan is repaid.

Richard Luxmore, Co-Founder of FundingSecure says: “We’ve created FundingSecure to offer superior saving rates to those seeking a better return for their money in these minimal-interest days. We believe peer-to-peer lending that is backed by personal assets is a great way to achieve this.”

FundingSecure is a hybrid version of pawnbroking that allows both savers and borrowers to strike a deal which works best for them.

“By providing a professional, affordable and discrete service, we plan to change the image of pawnbroking and thereby create new customers who might never have gone down that route before.”

The target borrowers of FundingSecure are asset-rich people who need quick cash and are willing to repay it within a short period. FundingSecure also expects to appeal to owner-managed businesses who need short-term funding. Borrowers can repay at any time, (subject to a minimum period of 30 days) and they only pay interest for the days that they have the cash.

How does FundingSecure work? The borrower sets the interest rate paid to the saver. Rates are currently trending at 13% which, after deducting commission of 15%, yields a net return of 11%, far better return than the at a high street bank. FundingSecure adds a monthly administrative charge to the borrower which brings the average APR to 36%, significantly below the typical rates of high street pawnbrokers who charge anywhere from 60% to 100%.

Noman Akram, FundingSecure Co-Founder, adds: “While secured loans are not new within the peer-to-peer lending market, using the principles of pawnbroking is definitely a first. Because the loans are backed with physical assets, held by us, we anticipate a high influx of savers who are looking for a safe way to secure a great return.”

You can find more information about saving or borrowing money with FundingSecure on their website

contact details

0844 800 8468
enquiries@fundingsecure.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Kyle & Irving in the following categories: Consumer Technology, Personal Finance, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.