More about our loan applications! We set up Go2 Business Loans with the specific aim of helping local businesses and have completed our first investment project. Go2 Business Loans, based in Southampton, has helped fellow South Coast firm FastGrowth Limited raise £10,000 through its crowdfunding site.
Southampton-based FastGrowth Limited inspires and assists managing directors of mid-sized companies to transform their businesses through massive growth to triple their value in three years. The money raised will help the company with the first phase of its regional expansion programme. Investors received an average interest rate of 11.13% on the fully funded loan.
Rob Bennet, director of Go2 Business Loans, said the completion of the funding project marks the first of many for businesses across the south. “We really believe this is the future of SME funding,” he said. “It allows investors to make a healthy return and gives local businesses access to the funding they need in a hassle-free way.”
Andy Galloway, managing director of Fast Growth Limited, said: “You can spend a lot of time, money and effort trying to get funding from banks as a small business. Deciding to raise capital through crowdfunding was something new to us but it was definitely the right move. It was quick and easy and in fact it only took four weeks from filling out the forms to raisingthe full £10,000. Now we have the money to undertake our regional expansion programme.”
Go2 Business Loans directly connects established businesses who want to borrow with investors. Businesses can seek investment from £10,000 to £250,000 to fund anything to help them grow; be it equipment, training or marketing. Investors can put as little as £50 and as much as £5,000 into any one project on the website and know that their money is helping the local economy by supporting local businesses.
To find out more and to see our next loan request, visit go2businessloans.co.uk
This is peer to peer lending and your investment is at risk. We encourage investors to diversify their portfolio and to review all investments to ensure that they meet with their own investment criteria.