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In the news: LendingCrowd’s Self Select Account

The benefits of our Self Select Account, which allows investors to take a hands-on approach to peer-to-peer lending, have been highlighted in an article on the Peer2Peer Finance News website.

It looks at research published by P2P analyst Orca following the decision in September by Funding Circle to end manual lending on its platform.

“Clearly there are investors interested in this functionality,” said Orca chief executive Iain Niblock.

The Peer2Peer Finance News article says that LendingCrowd paid 10.37%* interest to investors last year, compared with 9.57% on Funding Circle.

“The average loan size on LendingCrowd so far this year has been £89,598, compared with £70,775 on Funding Circle,” it adds.

Stuart Lunn, co-founder and chief executive of LendingCrowd, says: “Rival P2P platforms have withdrawn their manual investment options, but we understand that a one-size-fits-all model doesn’t work for investors.

“That is why we offer passive investing with our Growth Account, along with active opportunities through our Self Select Account, allowing our investors to choose from a range of creditworthy companies that have been carefully selected by our expert team.”

You can open a Self Select Account with a minimum of just £20. We encourage investors to spread their money across a range of businesses, as this is the safest way to protect their capital from bad debt, but they also need to take the time to review those companies thoroughly.

Investors should understand the business profile, its financial needs and its management information, and only lend if the borrower matches their risk appetite.

*Capital at risk

Article author

Gareth Mackie

Gareth Mackie

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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.

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