Small and medium-sized businesses are the powerhouse of the British economy, making up more than 99% of the business population and accounting for some 60% of all private sector employment.
The business loans market is dominated by a handful of large banks, which have reduced lending to SMEs since the financial crisis more than a decade ago. However, a new breed of lending models are making inroads towards alleviating the funding gap facing the small business market.
Analysis by lending data provider Brismo shows that the total value of business lending by alternative finance providers across the UK rose by 18% to almost £2.3 billion in 2018.
Financial technology (fintech) platforms like LendingCrowd offer a flexible alternative to banks, many of whom take a prescriptive approach to business lending.
How is LendingCrowd different?
- Quick and easy to apply
- Fast approval process
- No early repayment charges
- Transparent arrangement fees
- Direct access to our team of experts
- Friendly, efficient and easy-to-navigate website
LendingCrowd, which was founded in 2014, is fully authorised by the Financial Conduct Authority and can arrange loans for limited companies and limited liability partnerships.
To be eligible for a LendingCrowd loan, your business will have been trading for at least two years and have an annual turnover of £100,000 or more.
An initial eligibility check takes just 60 seconds and you can apply in minutes. Our experienced Credit Team aims to make a decision in 24 hours. Once the paperwork is completed, the money could be in your account the same working day.
From start to finish, the process is quick and seamless. That’s why businesses Think Outside The Bank and turn to us for their funding needs.
Business loan terms range from six months to five years. Borrowers make one repayment a month, made up of capital and interest. At any point during the loan term you can make overpayments of at least £5,000, enabling you to reduce the term and the total interest payable.
You can also repay the outstanding balance in full at any time, with no early repayment fees or penalties.
Think Outside The Bank
With LendingCrowd, you’ll have direct access to our team, so you’ll always be able to speak to an expert and get the answers you need.
When you apply for a LendingCrowd loan, you’re not on your own. We’ll support you throughout the application process and offer insights on what kind of arrangement would be best for your business.
For more information, and to find out how we can help to take your business further, call us on 0345 564 1600 or email email@example.com