Business Loan Network

Business Loan Network Limited (BLN) was a UK peer-to-peer lending platform that operated as a directly authorised P2P firm (FCA FRN 724062), primarily facilitating crowdfunded, asset-secured loans to small and medium-sized enterprises (SMEs). The company was incorporated on 10 May 2010.

BLN stopped accepting new business on 9 December 2019 and entered a managed run-off to recover and distribute outstanding loans. Joint Administrators were appointed on 15 April 2021; the company transitioned to liquidation on 25 April 2023, with the same individuals appointed Joint Liquidators. The platform no longer accepts new investments and current activity is limited to wind-down and loan recovery under the Joint Liquidators' oversight.

Why this matters: the firm's insolvency status means it cannot originate new loans or provide normal platform services, and existing investors must rely on the liquidation process for recovery of outstanding capital and interest.

Historically, BLN operated an online marketplace matching lenders (retail and institutional) with SME borrowers. Loans were typically secured against business assets, often property, and the platform facilitated loan documentation, payment flows (collections and distributions), and record-keeping.

After the firm entered administration and later liquidation, these operational functions were taken over by the Administrators/Liquidators to manage the run-off and creditor distributions via the site portal and communications channels.

Why this matters: investors relying on historical platform processes should not assume those services continue in the same form — ongoing servicing is now controlled by insolvency practitioners with priority on recovery rather than new lending or secondary market liquidity.

Prior to closing to new business, BLN offered secured business loans crowdfunded by investors through its P2P platform. As of the firm's wind-down and liquidation, it ceased offering new investment products and closed the secondary market facility. The company's Terms and Conditions (January 2021) explicitly state it was no longer accepting new lending and that capital is at risk.

Why this matters: there is no opportunity to open new positions on the platform, and previously marketed features (e.g., secondary market) are no longer available, reducing investor options for exiting positions.

Historically: individual and institutional investors prepared to accept the risk of capital loss by lending to SMEs secured against assets. Such P2P investments were not covered by the Financial Services Compensation Scheme (FSCS).

Currently: the platform is relevant only to existing lenders/creditors awaiting recovery and distribution under the liquidation process.

Why this matters: FSCS does not protect P2P business loan investments, so lenders must rely on collateral recovery and the insolvency process to recoup funds — outcomes can be partial and slow.

FCA status: BLN was a directly authorised P2P firm (FCA FRN 724062) while operating. It is not an appointed representative; the firm itself held authorisation when active. Direct authorisation means regulatory responsibility rested with the firm rather than with a principal firm.

FSCS: P2P business loan investments are not covered by the Financial Services Compensation Scheme. Lenders cannot rely on FSCS cover; recoveries depend on collateral realisation and insolvency distributions. Absence of FSCS means greater investor risk compared with FSCS-covered products.

If you are a lender or creditor, contact the Joint Liquidators or the BLN Case Team for case-specific queries: support@businessloannetwork.co.uk and BLN Case Team, c/o Kroll, 32 London Bridge Street, London, SE1 9SG.

Check the company website for official liquidators' notices and the Portal for updates; rely on formal communications from the Liquidators rather than unverified third-party sites. Direct contact with the Liquidators is the appropriate channel for submitting claims and obtaining the latest progress reports.