LendingCrowd is a peer-to-peer lending platform connecting investors with businesses that want to raise money. Since 2014, LendingCrowd has lent to over 930 businesses, totalling £85 million. Based in Edinburgh, the leadership team has experience across banking and financial services.
LendingCrowd Loans & Finance
Businesses can borrow from £5,000 to £500,000 and repay over 6 months to 5 years. Interest rates start from 5.95%, and fees start at 4% of the amount borrowed and will be agreed upfront. Your application can be sent online and you’ll receive a decision from LendingCrowd within 24 hours.
Investors using the LendingCrowd platform will fund your project and receive a return on their original investment when you repay.
LendingCrowd Reviews and Ratings
Ratings are very mixed across the popular review sites and mainly written by investors. On Trustpilot, some are pleased with their returns, but many have had problems when borrowers default.
Google and Smart Money People reviews are more positive. Borrowers didn’t leave many comments though, so it’s difficult to know what they think of the service.
LendingCrowd was named Best P2P Business Lender at the Growth Finance Awards 2019.
In May 2019, LendingCrowd teamed up with the Scottish Investment Bank (SIB) and Dutch bank NIBC to pledge £18 million in SME funding across Scotland.
- Short and long term finance are available.
- Transparent fees agreed upfront.
- Reviews are mixed. Many investors seem unhappy with their returns.
Website: LendingCrowd Business Finance