Regional law firm Napthens has been appointed to a legal panel by a leading peer-to-peer business loan service specialising in supporting rural businesses.
Folk2Folk was launched in 2013, with the aim of introducing local and rural businesses looking for finance to local people looking for a suitable investment opportunity. It has so far lent more than £130m.
Last year Folk2Folk launched a national legal panel consisting of panel firms based around the country. Loans are secured against property, and these panel firms carry out the legal work necessary to complete loans for local business owners, for instance validating the properties involved.
Napthens has offices in Kendal and Penrith, offering a full service for businesses and individuals including commercial property, family and divorce and corporate matters.
It is one of the few law firms to have a specialist rural team, working with farmers and the wider agricultural sector to advise on a range of matters from business to personal. Napthens is also just one of a handful of NFU panel firms nationally.
James Todhunter, head of Napthens’ Cumbrian offices in Kendal and Penrith, said: “Much of our work at Napthens involves helping local businesses and their owners to start or expand a business.
“Becoming a member of the Folk2Folk panel will allow us to play an even greater role in the local business community, helping to match-up businesses with those looking to offer funding.
“We are particularly pleased to work with an organisation like Folk2Folk which places an emphasis on the rural sector, clearly an important part of the business community in Cumbria and one which we have very strong ties to.
“The Folk2Folk model has been a highly successful one, helping many businesses over more than three years, and as a panel firm we will also have a good opportunity to introduce our own clients to this source of funding.
“There’s no doubt that the Cumbrian business community is highly active with some fantastic, innovative companies waiting in the wings.”
Jane Dumeresque, Folk2Folk CEO, said: “Napthens is one of the leading law firms in Cumbria with a strong heritage in the local area and we are delighted to welcome them to our Legal Panel. Napthens has deep ties to the local community, which combined with their ability to provide an exceptional service means they are a perfect fit for the Legal Panel.”