BRISTOL POST ARTICLE: BRISTOL-based crowdfunding platform Fundsurfer has moved into its next phase by announcing the launch of a new lending service.

BRISTOL-based crowdfunding platform Fundsurfer has moved into its next phase by announcing the launch of a new lending service.

The platform, which has access to a range of innovative providers of business loans from £5,000 to £1 million, has launched Fundsurfer Lending.

These providers connect SMEs with multiple individuals who want to lend money at competitive rates. Otherwise known as peer-to-peer lending, it has seen explosive growth as an alternative source of business finance to the high street banks.

Co-founder, Oliver Mochizuki, said: "We recently exhibited Fundsurfer at the Business Showcase South West at Colston Hall and were blown away by the level of interest and support for what we are trying to do.

"The launch of Fundsurfer Lending and the potential for future development of the platform offer us a wonderful opportunity to support creative, social projects and local businesses across Bristol and the South West. We want to make crowdfunding simple and accessible for everyone."

An official launch event will take place on April 30 and a number of projects are being worked on to go live, including reward and donation campaigns for Rework, Happy City, The Creative Mind Group, Roxx Design, Protect our NHS, Blu Media and Valv.

Alongside these partnerships are a range of individually curated projects including a novel, short film, photography exhibition, coaching tool, community support programme, football kit for local school sports teams, youth theatre show, local cleaning company and a jewellery brand launch.

The crowdfunding sector has experienced huge growth, with more than £8 billion turnover expected in 2014 alone.