Proplend has announced that Peter Bloom (pictured) has joined Proplend as a non-executive director.
In 2015, Bloom co-founded BloomSmiths, one of the first specialist VAT lending companies in the UK. He brings over 30 years of experience in the acquisition and disposal of commercial property investments, combined with a deep understanding of VAT lending. He will assist in launching and growing our new VAT lending product and contribute to the wider ongoing strategy of the business.
Proplend is one of the leading alternative commercial real estate debt lending platforms. Since inception they have funded over £130m of lending across their technology platform, funding everything from traditional offices, industrial and retail through to marinas, religious buildings and even a vineyard.
“We are totally commercial property focused,” said founder and CEO, Brian Bartaby. “I have been keen to launch a VAT lending product to complement our existing commercial bridge and term loans for a while and meeting Peter was a very timely event. The way in which we are operate and are funded means that borrowers will ultimately benefit from a cheaper overall transaction cost”.
“Not only will we be the first platform to offer VAT loans, but we can also save borrowers both time and money by offering a senior debt and VAT loan combination. Peter’s 30 years of commercial property experience combined with his visionary VAT lending knowledge, is a very welcome addition to our small and entrepreneurial team”.
“Having created the first specialised property VAT lending product, which I launched through Bloomsmith Limited, I was very excited to be invited by Brian to join his team in the next evolution, embedding VAT lending within a FinTech platform,” said Bloom. “Offering VAT bridge loans via Proplend’s technology platform is the next advancement in lending and could not have come at a better time.”
Proplend is an FCA regulated peer-to-peer lending platform specialising in sub £5m commercial real estate debt. We match commercial property investor demand for loans with investor demand for income. Proplend has completed over £130m of lending and for the past four years has been rated by 4thWay as one of the top peer-to-peer platforms in the UK.
