An innovative peer-to-peer solution where investors bid in an auction to finance your loan at a competitive rate.
LendingCrowd is a peer-to-peer (P2P) platform that matches small- to medium-sized enterprises (SMEs) in need of affordable finance with private investors who want a competitive return on their money.
The LendingCrowd platform, launched in 2014, aims to get you the most competitive rate on a business loan of £5,000 to £500,000 by connecting you with private lenders who are looking to invest in SMEs.
Peer-to-peer investors are asked to bid on your loan target in an auction, with the most competitive bid winning. Once you’ve accepted the loan and completed the paperwork, you can expect the money in your account on the same day.
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Key features of a LendingCrowd business loan
The interest rate you’re offered will depend on how many peer-to-peer lenders bid on your loan. Always check the total amount payable before you agree to a loan.
How does it work?
- Complete the simple online application, which should take around 15 minutes.
- Your application is assessed on an individual basis by LendingCrowd and you can expect a response within 24 hours.
- Once approved, LendingCrowd sets a minimum rate, which is dependent on your credit record, then puts your loan out to auction.
- Investors place bids to fill your loan target and only the lowest interest rates are accepted.
- Ensure you’ve read and fully understood the loan terms. Once you have completed the paperwork and the loan has been funded by the lender, the money could be in your account the same working day.
Am I eligible for a LendingCrowd business loan?
You should only apply for a LendingCrowd business loan if you’re certain you can meet the repayment terms. You must also:
- Be aged 18 or over
- Be based in the UK
- Have been trading for at least two years
- Have an annual turnover of at least £100,000
How do I apply?
You’ll need the following information at hand to complete the loan application on the LendingCrowd website:
Frequently asked questions