LendingCrowd

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]

LendingCrowd
Ltd.
FoundedUnited Kingdom (2014)
FounderStuart Lunn
Headquarters
Edinburgh
,
Scotland, UK
Area served
UK
ProductsP2P lending
Websitehttps://www.lendingcrowd.com/

History

Launched in 2014, LendingCrowd is the trading name of Edinburgh Alternative Finance Ltd. and was founded by CEO Stuart Lunn.[2] Since September 2014, the LendingCrowd platform has delivered more than £45 million in loans for over 500 SMEs across Britain [3] In October 2018, LendingCrowd announced the appointment of former Standard Life CEO Sir Sandy Crombie as its Chairman[4].

Innovative Finance ISA

In February 2017 LendingCrowd became one of the first peer-to-peer business lending platforms to provide the Innovative Finance ISA.[5] 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.[6][7]

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.[8]

gollark: Inb4 your eyes automatically filter out any content someone deems objectionable and you can't change it because something something "trusted computing".
gollark: Important internet infrastructure was designed and put into production last millennium when people assumed private networks and just ignored security concerns, and we still run it, sometimes with patches for the bigger problems which aren't actually anywhere near universally deployed.
gollark: Oh, and it's all a giant maze of interlocking abstraction layers which manage to somehow erase decades of Moore's law because someone wanted to ship an entire browser for their desktop app or something, and which nobody actually understands.
gollark: Even the lowest level hardware stuff is vulnerable to weird exotic side channels, there's unauditable proprietary code running lots of stuff, and even outside of that people just cannot seem to write consistently secure code.
gollark: Actual implanted cybernetics are somewhat worrying because I don't really trust computers at this point, especially higher-performance ones.

See also

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. "Marketplace Statistics | LendingCrowd". lendingcrowd.com. Retrieved October 1, 2018.
  4. "Sir Sandy Crombie joins LendingCrowd as Chairman | LendingCrowd". lendingcrowd.com. October 2018. Retrieved October 1, 2018.
  5. White, Lucy (August 9, 2017). "Octopus is the latest firm to offer the peer-to-peer Innovative Finance Isa". City A.M. Retrieved November 14, 2017.
  6. Jones, Rupert (February 18, 2017). "A new Isa is offering tax-free returns of 12% – so what's the catch?". The Guardian. Retrieved November 14, 2017.
  7. Murray, Amelia (November 13, 2017). "Peer-to-peer lending: is it too late to profit?". The Telegraph. Retrieved November 14, 2017.
  8. "Lending Crowd gains full FCA approval | Peer2Peer Finance News". P2pfinancenews.co.uk. 2016-11-03. Retrieved 2017-11-14.
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