Kuflink Group PLC has reportedly entered a £35 million debt facility that has recently been placed by European Risk Capital LLP (ERC) along with Paragon Bank.
The revolving credit facility, which is now secured on a portfolio of bridging and development loans, reportedly offers Kuflink with access to institutional money, scalable business growth, funding options, as well as a considerable alternative source of debt finance.
The initial tranche of £35 million is currently subject to increase and was agreed at a flexible 3-year commitment, which can be renewed on an annual basis.
Narinder Khattoare, Chief Executive Officer at Kuflink, stated:
“The new facility will take us to the next stage in the development of our growth. This agreement is the culmination of a lot of hard work, not only from our team but especially at ERC and Paragon Bank and I would like to thank everyone involved for making it happen.”
Tony Gioulis, Managing Partner at ERC, remarked:
“Against the current macroeconomic backdrop and challenging market conditions, the facility is a testament to Kuflink’s resilience and track record, in conjunction with Paragon’s product skill and asset class expertise.”
Jamie Pickering, Director of Structured Lending at Paragon Bank, commented:
“We are delighted to further our support for innovative specialist lenders by providing Kuflink with a bespoke, structured solution. I look forward to following its successful progress and supporting the growth of other specialist lenders in the years ahead.”
As noted by its management, Kuflink is a Peer to peer Platform.
Kuflink is also an FCA Authorized and Regulated online Peer to Peer platform. This means that the loans they offer to their borrowers are “all thoroughly underwritten to ensure they meet their high standards and are always secured by UK Property.”
They then offer these loans “as investment opportunities to their investors on the platform.”
Here they can earn up to 9.73% IF – ISA tax wrappers are available as well.
The firm says they have had over £240 million invested through the platform so far, with no investor “ever losing a penny.”
They further claim to have paid back over £142m in capital and interest (Figures correct to 1st February 2023)
Investments can start from “as little as £100 into the following products: Select/IF-ISA, Auto/IF-ISA, Buy to Let/IF-ISA, SIPP Select or SIPP Auto.”
The best bit about this is that the firm says it will Co-invest up to 5% in Select Invest deals.
Kuflink Ltd is “authorized and regulated by the Financial Conduct Authority (FCA) since 2017.”