New finance folk in town

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A new ‘peer-to-peer’ lending site has been launched in Launceston by the former managing director of internet banking operation Cahoot.

Tim Sawyer
Tim Sawyer

Headed by former Cahoot MD Tim Sawyer, and operations manager Rachel Marshall, formerly of Clydesdale Bank, Folk2Folk provides an online lending introduction service for individuals or businesses across the south west.

The service, which has been set up by the owners of local law firm, Parnalls of Launceston, looks to put those with funds, in touch with those looking for funds.

It promises competitive rates for borrowers, with the aim of completing the whole lending process from application to release of funds, within a week.