LendingCrowd

LendingCrowd
Ltd.
Founded United Kingdom (2014)
Founders Stuart Lunn, Bill Dobbie
Headquarters Edinburgh, Scotland, UK
Area served
 UK
Products P2P lending
Website https://www.lendingcrowd.com/

LendingCrowd is an online peer-to-peer lending company, based in Edinburgh, Scotland. As the first Scottish based crowdlending firm, LendingCrowd has created a platform that enables investors to support small and medium-sized businesses by lending personal capital through small loans whilst earning a monthly interest payment.[1]

History

Launched in 2014, LendingCrowd is the trading name of Edinburgh Alternative Finance Ltd. and was founded by Bill Dobbie and Stuart Lunn.[2] Since September 2014, LendingCrowd has processed through its platform £12 million in loans for over 130 SME’s all across the UK.

The Platform

LendingCrowd has developed a platform that is open to anyone. It operates on an order-driven exchange where the most competitive bids fund the loan application, providing the borrower with the lowest interest rate on their loan. Investors have a choice of risk categories, with corresponding returns, and a minimum investment of £20. Loans on the platform are secured by a combination of personal guarantees and floating charges or debentures.

Credit Approach

LendingCrowd has developed a rigorous credit approach including an in-house proprietary risk band modeler called ExpertLender. With over 80 years of combined experience the firm’s credit team evaluates all the information provided and then ExpertLender is used to calculate the Risk Band. [3]

Innovative Finance ISA

In early 2017 LendingCrowd became one of the first peer-to-peer business lending platforms to offer the Innovative Finance ISA. Only fully FCA authorised platforms are eligible to offer this product giving investors the opportunity to invest in peer-to-peer lending without having to pay tax on the interest earned.[4]

Risk and Regulation

Financial Conduct Authority

LendingCrowd is authorised and regulated by the Financial Conduct Authority (FCA). In November 2016 LendingCrowd became one of the first peer-to-peer lenders to move from interim permissions to fully authorised. [5]

References

  1. ↑ "Dobbie unveils crowd-lending site for SMEs | Herald Scotland". heraldscotland.com. Retrieved 2015-07-06.
  2. ↑ "LendingCrowd a Scotland first | Invest Edinburgh". investinedinburgh.com. Retrieved 2015-07-06.
  3. ↑ "Technology entrepreneur Bill Dobbie launches new 'crowdlender' business | Daily Record". dailyrecord.co.uk. Retrieved 2015-07-07.
  4. ↑ https://finance.yahoo.com/news/lendingcrowd-one-first-p2p-lenders-080500952.html
  5. ↑ http://www.p2pfinancenews.co.uk/2016/11/03/lending-crowd-fca-approval/

See also

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