The South West-based platform has lent over £125m since launching in 2013 and recently announced that it was aiming to facilitate £1bn through the opening of a number of regional branches. 

FCA authorisation will now allow Folk2Folk to take a step nearer to offering the IFIsa, which requires approval from HM Revenue & Customs. 

Jane Dumeresque, CEO of Folk2Folk, said it was delighted to have been granted full authorisation and saw it as a significant milestone for the firm.

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“This decision is significant as it makes us eligible to offer our IFIsa before the end of this tax year. 

“I think it speaks volumes about Folk2Folk as a business having gained its full FCA authorisation ahead of many of the industry’s leading and larger platforms. 

“We believe this will act as a positive sign to investors as well as business professionals that are looking to partner with a trusted and fully authorised platform like Folk2Folk.”

Jane added that it was Folk2Folk’s mission to help local businesses get access to the finance they need by matching them with local investors.

“Folk2Folk remains a business of the people, for the people, by the people and is proud to be a national lender that operates locally. 

“By establishing a local presence in strategic regions across the UK through our unique branch network, we can encourage the local community to invest through Folk2Folk to help local business owners prosper and thrive. 

“We believe it’s always more interesting and reassuring when an investor can see what exciting projects their money is supporting.”