Folk2Folk launches “locaI” ISA

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Folk2Folk, Peer-to-Peer lending platform for local and rural business today announces the launch of its Innovative Finance ISA (IFISA), giving investors the opportunity to support British businesses within their local area whilst earning tax-free interest on their Folk2Folk loans.

Jane Dumeresque, ceo Folk2Folk, said: “We’re delighted to give our lenders the opportunity to earn tax-free interest from their Folk2Folk loans. It’s something our Lender community has asked for since we began our journey in 2013 and it’s something to be excited about. The launch of our IFISA comes at a time when investors are starved for yield, with most interest rates set well below inflation. At Folk2Folk we’re able to offer consumers an alternative income opportunity; one that now provides welcome tax-free interest earned through the ISA wrapper.

We believe our IFISA returns will not only offer a source of monthly income for investors, enabling them to support their lifestyles and achieve their financial goals but also encourage more people to support and lend to local UK businesses. We offer our lenders great interest rates within a transparent structure, a great feeling of local participation and the opportunity to make a huge impact on the communities in which they live.”