Formax Credit UK Limited is a regulated Peer-to-Peer platform where qualified individuals and organisations can lend money to small and medium sized UK businesses. The Formax Group, founded in 2012, currently operates across a number of countries worldwide, with premises in the United Kingdom, New Zealand, Australia, Hong Kong, China, India, Vietnam, and Thailand. Established in 2013 the company has quickly become established as a leading provider of state of the art, diversified, and professional financial services.
Innovative Finance ISA
Formax Credit’s Innovative Finance ISA allows you to hold a range of alternative finance products in a tax free wrapper that keeps any returns you receive free of tax. The IFISA allows you to subscribe up to £20,000 in the 2023/24 tax year and protects the return on those investments from tax. You can transfer any existing ISA account you have to your new IFISA account and take advantage of the higher return rates available. The minimum investment amount is £100.
Formax Credit is a regulated Peer-to-Peer platform where qualified individuals and organisations can lend money to small and medium sized UK businesses. The company offers professional financial services such as business loans, investment opportunities and borrowing.
Formax Credit Reviews and Ratings
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- A large organisation with state-of-the-art financial services
- A strong global reputation
- Specialist Innovative Finance ISAs
- Fully authorised and regulated by the Financial Conduct Authority
- Fast easy online setup
- Innovative Finance ISA products only
- Cash ISAs, Lifetime ISAs and Stocks and Shares ISAs not offered
- Minimum investment amount is £100
- A fairly basic website with limited product information
- A lack of help information, guides and downloadable content
- No online reviews or product feedback
Website: Formax Credit