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Coronavirus update


Amid the ongoing coronavirus (Covid-19) outbreak, LendingCrowd stands ready to help our valued community of borrowers and lenders.

With the stock market experiencing volatility in recent days, it is important to remember that LendingCrowd only lends to British businesses that have been carefully assessed for affordability by our expert team. Returns from lending to businesses are not subject to the same ups and downs as the global stock market. Well-run, creditworthy and ambitious businesses are continuing to seek funding through our platform currently in order to create jobs, expand their operations and contribute to the British economy.

We have already reached out to all of our borrowers – our message is one of support and reassurance. We are working with various government bodies to identify funding packages that may apply to our borrowers if required. We have also signposted a number of organisations that can provide additional support and information, including the Federation of Small Businesses and other professional bodies, as well as guidance and advice from the UK government.

LendingCrowd is a strategic partner of the Institute of Chartered Accountants of Scotland (ICAS), so if businesses need advice from a Chartered Accountant they can visit: https://www.icas.com/find-a-ca

Businesses in England or Wales that are seeking advice from a Chartered Accountant can visit: https://find.icaew.com/

In Wednesday’s Budget, the Chancellor of the Exchequer, Rishi Sunak, announced a number of measures designed to alleviate the impact of coronavirus on businesses, including a package of business rates relief, to help free up cashflow so that businesses can meet their other commitments.

The LendingCrowd management team is monitoring developments and we have business continuity plans in place to ensure we can continue to operate our platform as effectively without any disruption to our service. As a platform that is authorised and regulated by the Financial Conduct Authority, we are obliged to have robust business continuity plans in place.

Thank you for your continued support. If you have any questions, please email contactus@lendingcrowd.com or call 0345 564 1600.

Borrowers:
As a borrower, it’s important to remember that defaulting might lead to the debt being passed to an agency for collection. Remember, if in doubt just call us.

Lenders:
When lending to businesses, it is important to remember that your capital is at risk. LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

Article author

Gareth Mackie

Gareth Mackie

If you invest through LendingCrowd you should understand that your capital is at risk.

LendingCrowd is the trading name of Edinburgh Alternative Finance Limited, Company Number SC468392, authorised and regulated by the Financial Conduct Authority (Firm reference number 670991). LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

Read more about the risk involved when investing and borrowing.

The company's registered office is 23 Manor Place, Edinburgh, EH3 7DX.

Copyright © LendingCrowd 2020. All rights reserved.

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LendingCrowd is open for business and stands ready to help borrowers and lenders through the Covid-19 outbreak. Find out more: