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Peer2Peer Finance News | July 18, 2019

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LendingCrowd tempts new investors with joining bonus

LendingCrowd tempts new investors with joining bonus
  • On October 20, 2016

SCOTTISH peer-to-peer lender LendingCrowd is offering a 2.5 per cent joining bonus on investments of £5,000 and over, in an effort to attract new lenders.

The Edinburgh-based firm, which matches investors with UK-based sole traders and SMEs, also revealed that its lending platform has achieved an average rate of return of 8.1 per cent over the past 12 months.

“The platform has achieved a great rate of return over the last year, with numbers that compare very favourably to other P2P lenders in the UK and internationally,” said LendingCrowd’s chief executive and co-founder, Stuart Lunn. “Our investor base is telling us that as well as being happy taking on risk to achieve a rate of return that beats most other investments, there is a real satisfaction level involved in the process of supporting the growth of some of our most exciting SMEs.”

Since its launch in 2014, LendingCrowd has facilitated loans totalling over £7m from more than 2,000 investors. The minimum business loan is £5,000, although deals have ranged in size from £20,000 to over £1m. Investors can place all their money into one direct loan, or spread across the outstanding loans on the loan market.

In order to access the 2.5 per cent lending bonus, new lenders must register on the site by 30 November.