Lend & Borrow Trust Company (“LBT”), which is the first peer-to-peer lending platform that enables borrowers to monetise their investment-grade precious metals by pledging them as security, is pleased to announce the completion of a CAD 5,000,000 loan.
This latest loan, which was made to a business based in the north of England, increases LBT’s total loan portfolio in GBP terms to £8.2 million.
“It is gratifying to see this interest by borrowers who now have the opportunity to monetise their gold and silver,” said James Turk, LBT’s founder and chairman. “Similarly, the one lender to this transaction told me that they were pleased with the interest rate at which the loan was completed.”
Borrowers at LBT retain ownership of their gold or silver but control is given to LBT for the term of the loan, whilst lenders earn monthly interest income. Once the loan has been repaid, control of the pledged precious metal is returned to the Borrower.
Lend & Borrow Trust Company Ltd
Advent House, Station Approach
Victoria, St Austell
Cornwall PL26 8LG
+44 (0) 1726 893 017