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Crowd for Angels launches first crowd bonds for IFISA


Crowd for Angels has launched its first “crowd bonds”, a specially created secured, high interest product which is eligible for its new Innovative Finance ISA (IFISA).

Introduced by the government in April last year, the IFISA allows investors to earn tax free income on crowdfunded debt securities.
The first two companies to issue crowd bonds to investors on the Crowd for Angels platform are: Seven Spirit Limited, an independent bar and restaurant group raising up to GBP400,000 and offering 6.4 per cent p.a. interest, paid monthly; and PayitMonthly, a company which helps SMEs offer their customers interest free finance, which is raising up to GBP200,000 at a rate of 9 per cent pa, paid monthly.
These are the first two crowd bonds launched by Crowd for Angels which are eligible for its new IFISA. The bonds have been designed to offer a higher rate of return than a typical Cash ISA and, providing a further degree of protection, are secured against assets of the borrowing companies or other assets.
Tony De Nazareth, CEO and founder of Crowd for Angels, says: “With interest rates on Cash ISAs currently at all-time lows, we expect to see high demand for our crowd bonds. Investors who are willing to take on extra risk by lending to companies have the opportunity of making tax free returns of up to 9 per cent per annum on our asset backed bonds, which compares to an average interest rate of just 0.64 per cent on a Cash ISA.”

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