Peer-to-business lending platform rebuildingsociety.com has announced the appointment of Nigel Payne, the former managing director of BM Solutions and Assurant Intermediary as a non-executive director for its introducer channel.

Payne (pictured) has joined former HML and Mortgages PLC marketing director Julian Wells to help the peer-to-business lending site generate borrower leads through adviser referrals.

Rebuildingsociety.com pays advisers 1.5% on completed deals and takes on businesses currently trading profitably with two years of filed accounts. It then promotes the opportunity through its website to a network of investors who pledge small amounts to create a secured or unsecured loan.

“In today’s market where the major lenders are restricting their lending, such innovative approaches to finding new sources of funds for quality businesses that are looking to grow should be applauded,” said Payne.

Daniel Rajkumar, rebuildingsociety.com’s managing director, added: “Nigel’s connections and reputation in the introducer market will help get across the benefits and credibility of our proposition to advisers.

“With Nigel and Julian leading our campaign, we’ll be able to create strong long-term relationships with advisers and help their clients access finance.”