Proplend’s VAT lending expert steps down as director
VAT lending expert Peter Bloom has stepped down from his role as a director of Proplend.
Bloom was appointed in August 2021 when the peer-to-peer commercial property lending platform launched its commercial property VAT loans.
Proplend said at the time that Bloom would assist in launching and growing the platform’s new VAT lending product and contribute to the wider ongoing strategy of the business.
Bloom co-founded BloomSmiths in 2015 – one of the first specialist VAT lending companies in the UK.
“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,” chief executive and founder Brian Bartaby said at the time.
Bloom’s role as director was terminated on 28 February, according to documents filed with Companies House.
Bartaby has been contacted for comment.
Read more: P2P platforms on hiring spree
Proplend has been busy of late, having announced its best ever month for lending in November, both in terms of volume and number of loans.
Its investor newsletter said it had five loans repay in November, bringing its year-to-date total to 28 loans, repaying £24.3m.
Of a total of 72 active loans, Proplend said five loans were repaid and four were past term, while out of a total of 68 commercial mortgages, it has four repaid and two past term. Of four commercial and VAT bridges, one has been repaid and two are past term.
Proplend has funded more than £168m of loans since launching in 2014.
Read more: Proplend hires ex-Metro Bank MD as board chairman