Successful launch for peer-to-peer lending business

Tuesday 14 January 2014

A new peer-to-peer (P2P) lender has launched with £23m of proprietary capital raised mostly from local entrepreneurs and professionals.

Sancus concentrates on traditional P2P transactions and focuses on working with entrepreneurs and businesses that are creating local job opportunities.

Chief Executive Andrew Whelan said: “We are delighted to announce that we are open for business and ready to lend.  Sancus has been able to attract significant shareholders, the majority of whom are Channel Islanders who understand the benefits of this sector and are keen to assist in supporting the real economy.”

P2P lending is a growing industry worldwide, addressing the demand for funding created by the retrenchment of traditional lenders. Sancus plans to extend its operations into other offshore jurisdictions where its expertise can benefit small and medium enterprises and High Net Worth individuals.