LendingCrowd Launch Investor Facing App

Peer-to-business Loans

Peer-to-peer lender LendingCrowd has introduced an app to make its investors’ lives easier.

The iOS app will give investors instant access to their investment portfolios and the ability to invest while on the move. Some key features of the LendingCrowd app are:

Investors can view their whole investment portfolioReceive notifications of when they are outbidReceive notifications of when a bid is accepted

Users of the app will be able to manage the entire investing experience on the go; from the moment they sign up, to closing a lending deal.

Stuart Lunn, CEO of LendingCrowd, believes that the app will open up the opportunity to a whole new a...

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Growth Street Adds £5m in Firepower

Peer-to-business Loans

Growth Street officially went live roughly a fortnight ago, applying the marketplace lending model to a small business overdraft offering.

Growth Street provides access to flexible overdrafts of up to £150k for small businesses. Those overdrafts are funded by a select community of investors, in not dissimilar fashion to the consumer lending outfit Lendable. These investors must be either: a High Net Worth individual (with either £100k+ annual income or £250k+ in net assets), a Sophisticated Investor or a company or institution. CEO James Sherwin-Smith indicated to me that this last band of potential investors may well come to include former Growth Street business borrowers...

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Mark Johnson Joins Credit4 as Chief Operating Officer

Direct Business Lenders

By Credit4

I think it’s beyond dispute that the last three decades have ranked among the most challenging years ever for business lending. During this period, which encompasses my career, the industry has been forced to adapt to the radical changes in the financial landscape brought about by the banking crisis and the new laws and regulations that have followed in its wake.

My first exposure to so-called ‘Alternative Finance’ was at Commercial First Mortgages, a company that offered mortgages to SMEs which found it difficult to secure High Street funding (even in the good times) because they did not fit th...

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Just Cash Flow Rolls Out Card Solution

Direct Business Lenders

By AltFi.com – for the original article, click here

Somewhat inevitably, card products have arrived in the UK’s online lending space.

Just Cash Flow PLC, an alternative lender that provides credit facilities to small businesses, becomes – to our knowledge – the first European platform to offer customers a card-based solution. The “BusinessPlus MasterCard” will allow small businesses to access credit lines of up to £10,000 in amount – with a flexible repayment structure attached.

No interest will be charged on the facility until funds are drawn down. The drawing down of funds entails loading money onto the newly unveiled BusinessPlus card. Once dr...

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Growth Street Goes Live

Direct Business Lenders

Growth Street has officially launched its small business overdraft offering.

For the avoidance of confusion, Growth Street has been operating in a “proof of concept phase” for the past year – during which time the focus has been on testing the platform with a limited number of customers. Over the past 12 months of trialing, the company's customer base has reportedly managed to triple its turnover, and the platform is now ready to open up to the masses.

Growth Street operates as a direct lender, rather than as a peer-to-peer lender. The platform offers flexible overdrafts of up to £150k to small businesses. The platform places a firm emphasis on cutting-edge technology. It uses cloud-based softwa...

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ArchOver Strikes £100m Insurance Deal

Peer-to-business Loans

By AltFi.com - for the original article, click here

ArchOver ensures the longevity of its “secured and insured” peer-to-peer lending model.

SME lending platform ArchOver has announced a partnership with Coface – one of the world’s largest credit insurers. The deal creates future insurance cover of up to £100m. Coface specialises in the field of credit insurance for unpaid invoices, which suits the ArchOver model to a tee. ArchOver loans are secured against the value of a business’ accounts receivables, which have to be maintained at 125% of the value of the loan. Those accounts receivables are then underwritten by a “global insurance firm”. That firm – f...

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Credit4 Reveal New Product Aimed at Small Businesses

Direct Business Lenders

Small business lender Credit4 has today announced that it is launching a new product.

The ‘Dual Growth Funding (DGF)’ facility will allow customers that require a traditional term loan to sit alongside a more flexible credit facility.

The new product will allow borrowers to get loans worth £50,000 to £100,000 for between 12 and 24 months. As with the existing Flexible Facility, the DGF is not secured on the business, but requires supporting personal guarantees from all the directors/principals of the borrowing business.

Commenting on the new facility, Credit4’s Chief Executive Gary Trott said:

“The ...

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RebuildingSociety to Support own Auctions

Peer-to-business Loans

RebuildingSociety last week launched a new initiative where it is to back every loan that is put up onto the platform.

The peer-to-peer business lending platform is to bid £1,000 on every loan that goes live on their website in aim to boost bidding. RebuildingSociety works on an auction process where investors bid amounts they wish to lend and the interest rate they want to charge. The more bids your loan request gets the lower the rate of interest you will be.

The business lender has stated that if the loan closes with their investment on board, they will put the £1,000 up for sale at a rate of 1% below the loan’s maximum rate. These wil...

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Funding Circle Acquires Zencap, Breaks Into Europe

Peer-to-business Loans

By AltFi.com – for the original article, click here

Funding Circle is moving into Europe.

The world’s leading marketplace lending platform for SMEs has acquired the Rocket Internet-backed operator Zencap. Zencap's website has been rebranded and will now trade as Funding Circle enabling Funding Circle to roll out its services in Germany, Spain and the Netherlands. The platform is thus declaring itself the world’s first truly global marketplace – covering the UK, US and continental Europe.

Funding Circle deems the European opportunity as juicier than both the UK and US markets combined, with over €1 trillion of...

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RateSetter Turns Five, Tops £800m Mark

Peer-to-business Loans

By AltFi.com – for the original article, click here

Major peer-to-peer lender RateSetter is now five years removed from launch.

Launched in October 2010, RateSetter quickly became a force to be reckoned with within the UK peer-to-peer lending space. The platform has lent a cumulative total of £816m to date, according to the Liberum AltFi Volume Index UK, and boasts a 19.09% share of the peer-to-peer lending market over the past three months. The platform has indicated that it expects to lend around £500m this year. The platform is currently ranked third for cumulative lending to date amongst UK P2P platforms.

RateSetter has been trading profi...

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LendingCrowd Reaches 1 Year Milestone

Peer-to-business Loans

Scotland’s only specialist peer-to-business crowdlending platform, LendingCrowd, is celebrating its first birthday this week.

Co-founded by CEO Stuart Lunn and Chairman Bill Dobbie, LendingCrowd has facilitated 34 loans totally £1.75m to SMEs across the platform with 1,100 investors signed up since the company launched on 1st October 2014.

Over the past twelve months, the Edinburgh-headquartered platform has grown from a team of nine to 16 members of staff. This includes a credit assessment team with more than 100 years’ banking experience between them and a team of in-house developers who have created bespoke software that positions LendingCrowd at the...

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MarketInvoice Blasts Past Half a Billion

Invoice Funding

By AltFi - for the original article, click here

MarketInvoice has now facilitated over £500 million in funding for high-growth UK businesses since its launch in 2011, passing the half billion milestone yesterday. According to AltFi Data, £187m of this funding has been provided in 2015, with the company boasting an 11.7% share of UK P2P lending market origination. In the course of facilitating this impressive sum of funding, MarketInvoice has provided over 8,000 loans to over 1,300 registered businesses. The average loan size is £60k and all invoices listed for sale on MarketInvoice have been funded in full, the vast majority within seconds of being lis...

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Trade River Release First Survey

Trade Finance

Trade River Finance has released its first independent National Import Finance Survey.

The survey has been designed so that the trade finance company can understand more about their potential clients. Dany Rastelli, Head of Public Affairs and Marketing at TradeRiver commented:

“Import Finance is a critical part of the finance mix for UK businesses. That is why we are inviting import and trade professionals to participate in TradeRiver’s first independent National Import Finance Survey.

“We recognise that everyone’s time is valuable, so the survey has been designed to take less than 10 minutes to complete and by taking part in the survey, all participants will re...

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SyndicateRoom Introduces “Lift Round”

Equity Funding

By AltFi – for the original article, click here

SyndicateRoom has introduced a new term into the crowdfunding lexicon.

The platform has just closed a “Lift Round” – which essentially means a fundraising campaign that has already reached its minimum target prior to having been listed on the site. More specifically, a Lift Round involves a fundraise that has hit its funding target thanks to significant demand from an angel syndicate, or from other professional investors. Given SyndicateRoom’s “Angel-led” investment model, such campaigns may still be listed on the platform – giving retail investors the chance to pile in on a round that is guaranteed...

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Fair Finance Go Nationwide

Direct Business Lenders

Earlier this week Fair Finance announced that from September they would be able to support SMEs across the whole of the UK with unsecured business finance.

The decision represents a significant step for Community Development Finance which has traditionally focused on supporting businesses in specific regions.

The London based not-for-profit launched Fair Business Loans last year with the aim of supporting local businesses unable to access bank finance. The early success of the service, coupled with increasing demand from business owners and introducers from outside the South East, has fast tracked the decision to roll out nationally.

Speaking ahead of the national launch, Robert...

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£100 Million Successfully Invested on Crowdcube

Equity Funding

By AltFi Data – for the original article, click here

This week Crowdcube became the first UK investment crowdfunding platform to surpass the £100m volume milestone. Since Crowdcube launched in mid 2011 it has helped 285 businesses to successfully raise finance on the platform from some of its 200,000 registered users. Over half of this amount has been financed in the eight months of this year. Crowdcube’s dominance of the UK equity crowdfunding volumes is underlined by its market share. AltFi Data estimates that Crowdcube’s market share is just under 50% this year, making it by far and away the biggest equity crowdfunder in terms ...

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Boost Capital Appoint Managing Director

Direct Business Lenders

Boost Capital has appointed former American Express director Alexander Littner as Managing Director.

Mr Littner arrives at Boost Capital with a small business history behind him - he was responsible for the development and growth of the Small Business Card Portfolio across American Express’ EMEA, Asia-Pacific and LAC (Latin America and Caribbean) regions

Boost Capital is a direct funding source for small businesses and Mr Littner, will be responsible for the strategic direction of the business in the UK. With the expertise he has gained while working at American Express it seems a very sensible choice by the Boost employers.

Marc Glazer, CEO ...

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Funding Circle's Latest Partner: Lambeth Council

Peer-to-business Loans

By AltFi.com – for the original article, click here

Funding Circle has announced its latest partnership - with Lambeth Council. The move, which is part of the council’s Local Business Lending programme, will allow the council to lend directly to small businesses based in Lambeth. Councillor Jack Hopkins - Lambeth's cabinet minister for Jobs and Growth - remarked:

“This is an innovative way to provide local businesses the support they need to grow and improve. We want Lambeth to be a borough where businesses can thrive, boosting the local economy and creating more jobs and opportunities for our residents. Funding Circle has...

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Market Invoice Forms Working Relationship with KPMG

Invoice Funding

A new partnership has been formed in the alternative finance space after KPMG and MarketInvoice announced they had joined alliances.

The partnership between the two firms has been formed to enable customers of KPMG’s Small Business Accounting Service to access MarketInvoice finance directly through their accounting software.

Anil Stocker, chief executive of MarketInvoice, said:

"The world of finance is changing; fintech companies like MarketInvoice offer new ways for businesses to access finance quickly, simply and transparently, direct from their accounting software.

"It's great that KPMG is backing ...

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Filmmakers Turn to Crowdfunding

The independent American filmmakers and game developers of the ‘The Hunger’ have launched a crowdfunding campaign on Fundsurfer.

The filmmakers are looking to raise $12,000 through reward-based crowdfunding for the production of occult horror film and accompanying arcade game ‘The Hunger: Awoken which will be part of their transmedia project.

Max Kondziolka, Producer said

“The Hunger, and The Hunger 'Awoken', bring together a team of young filmmakers and artists looking to create something original and captivating. The cast and crew of The Hunger, were initially brought together as students of Emerson College. Our team consists of people from different disciplines a...

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