Log In
As online and mobile devices and services continue to develop, it’s becoming increasingly easy to connect businesses with potential investors. As connectivity grows, so does the popularity of peer-to-peer lending, which, in a nutshell, connects businesses seeking funding with potential investors.
Funding Circle
With online developments bringing new opportunities for peer-to-peer lending, many new lending companies have sprung up over the last few years, with some becoming very successful. Once such success story is Funding Circle. It’s now one of the largest operators in this market and has facilitated the lending of nearly £400 million to British businesses.
You can apply online for an unsecured business loan through Funding Circle and you should be told of the decision within 2 working days. If your application is successful, within 7 working days your loan will be listed on the Funding Circle marketplace where investors bid on your requested loan. Here they not only pledge the amount they’ll lend but also the interest rate. Once bidding is complete and the lowest interest rates have been accepted on the loan, your business will make monthly repayments that are distributed back to investors.
Zopa and Ratesetter
Two other peer-to-peer lending companies, Zopa and Ratesetter, can lend between £1,000 and £25,000 to businesses. To apply, visit their websites and select a term and APR then request a quote. You should be told if you’re successful within 24 hours (weekdays only) and the funds are transferred on approval.
These cookies are set by a range of social media services that we have added to the site to enable you to share our content with your friends and networks. They are capable of tracking your browser across other sites and building up a profile of your interests. This may impact the content and messages you see on other websites you visit.
If you do not allow these cookies you may not be able to use or see these sharing tools.