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It’s the first year of the AltFi Awards and we’re looking for votes in the People’s Choice category.
You can vote for rebuildingsociety with just a click of a button! All votes, re-tweets, Facebook likes and other promotional activity is much appreciated!
http://www.altfi.com/events/altfi_awards_2014/awards/14
25 year old Ellie Kirby isn’t a stereotypical peer-to-peer lender. She’s young and female, but she does own her own business, Exhibition Plinths, and has been investing in rebuildingsociety’s businesses since March 2014. This is how she describes her motivations and her lending journey.
Ellie Kirby, who has been lending through rebuildingsociety since March 2014
“As a natural born spender, the idea of saving money didn’t exactly excite me, investing therefore was way out of the question!
This guest post has been provided by rebuildingsociety’s PR agency, Quest PR.
The power of winning of winning awards to open new doors and drive sales is proven time and again.
Everyone loves to work with winners – and awards showcase your expertise, maximise success with your critical audiences via traditional PR and social media platforms – and attract great people to work with you.
Stop the frustrations of seeing, reading and hearing about your competitors scooping accolades – particularly when you know your company performs better – and start reaping their business boosting benefits.
As with all your PR and marketing activities, ensure the ones you enter are wholly aligned with your business goals and underpin your company’s vision.
Having compiled a myriad of trade and business awards which have driven sales and opened doors for our clients – we wanted to share our top tips with you.
rebuildingsociety does crowdlending or peer-to-business lending, but we like to keep an eye on our sister industry, crowdfunding.
In August George Osborne declared at the Innovate Finance initiative that ‘we stand at the dawn of a new era’. He was referring to the alternative finance space, which is blazing a trail across the world, but nowhere is that more concentrated than London, according to research from The Crowdfunding Centre.
At a recent seminar, some very impressive statistics about the growth of the start-up, rewards and equity crowdfunding space were revealed.
The Crowdfunding Centre takes data from 120,000 crowdfunds across the world, adding approximately 500 new ones to its data every day.
As you might expect, the US leads the way in the number of crowdfunds, and these are concentrated on the coasts, with Texas bucking that trend and placing highly in the leading US states. However, earlier this month, London originated 248 crowdfunds. The city in second place was Los Angeles with 158.
On 14 October, Brad Sugars, the world-renowned sales guru and business coach will be holding a roadshow in Leeds. We’ll be attending and we’ve been given a promotional code to pass on to rebuildingsociety members and friends: YLLST04, which is valid across all of Brad’s dates throughout the UK.
This seminar is perfect for motivating the sales team or refreshing your own sales drive. Brad is launching his new book “Buying Customers”, which is described as an innovative breakthrough in customer acquisition, lead generation, and customer service with proven strategies that consistently drive repeat business.
Brad will outline tested methods for “Buying Customers” in ways you can immediately understand, use and apply.
Simply enter this code when registering at http://buyingcustomers.com/ and we’ll look forward to seeing you there!
Venue: New Dock Hall
Time 6-9pm, registration from 5.45
Directions and further information will be provided once you have registered.
Managing finances in business can be devilishly difficult at times, but knowing when the right time to look at restructuring debt can help SME owners get their businesses back on track.
Consolidating debt can make calculating future performance much simpler
Some forms of finance, like factoring or credit cards can tie business owners down into long-term recurring costs with stings in the tail.
A peer-to-peer business loan could consolidate several debts and give owners valuable breathing space to get back to what inspired them to set up a business in the first place:
Increase your cash flow:
Short-term debt can be converted into a manageable long term plan.
In the last few months, rebuildingsociety has been gradually building its team as it handles more business in its loan auctions and supports white label clients.
L-R Pawel, Nick, Maria and Huw
We’re also dealing with the extra workload brought on by regulation, so we’ve recruited to meet that demand.
Joining the office team is Pawel Szewczyk, Nick Newton and Huw Miller, while Maria Samayoa has joined our remote working team.
Leeds-based peer-to-peer lending platform rebuildingsociety – which has a £3.5m loan book and has grown 250 per cent since December 2013 – marked its best month ever in July.
A total £610,000 of loans advanced to seven UK businesses included rebuildingsociety’s largest to date – £315,000 to Norfolk-based excavation and groundwork specialists GRA Project Management.
rebuildingsociety enables individuals to lend varying amounts of money – starting from just £10 – to established UK businesses. Companies repay monthly loans to the peer to peer lending platform, which acts as an administrator on behalf of its lenders. As part of a crowd, individuals earn pre-tax annual returns from 8-20 per cent, while businesses receive vital growth finance quickly, with no early repayment charges.
Verum Financial Research recently conducted a report using a detailed analysis of consumer spending and borrowing trends based on data from the Office for National Statistics (ONS) and the Bank of England – and the findings are interesting to say the least.
As Professor James Flitchett of the University of Leicester explains:
“The main problem facing the UK economy is therefore, now a problem concerning consumer spending and debt.”
As this data shows in considerable detail, the prospect of even slightly higher marginal lending rates could have a catastrophic effect on the economy.
In short, the report suggests that as a nation we’re over reliant on debt and our obsession with house prices is an accident waiting to happen. You can read the full report but we’ve summarized the key conclusions below.
These changes are applicable to borrowers with rebuildingsociety and will be of interest to lenders.
Late repayment charge
Over the past couple of weeks rebuildingsociety.com has experienced a high number of late repayments from borrowers. We believe that this has been symptomatic of the summer holiday period, with a number of directors away on leave and standing orders failing for one reason or another. The first is a characteristic of working with small businesses where only a single director or member of staff has authority to access bank accounts and manage payments.
Whilst we have managed to bring all late repayments up to date, we recognised that there were a few areas of the system that needed improving.
As such, we have now updated our Terms and Conditions to include a late repayment charge of 15% of the value of the repayment on repayments that are 7 or more days overdue (21.2).