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LendingCrowd
From Wikipedia, the free encyclopedia
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LendingCrowd is an online peer-to-peer lending company, based in Edinburgh, Scotland. As the first Scottish based crowdlending firm, LendingCrowd has created a platform that enables investors to support small and medium-sized businesses by lending personal capital through small loans whilst earning a monthly interest payment.[1]
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History
Launched in 2014, LendingCrowd is the trading name of Edinburgh Alternative Finance Ltd. and was founded by entrepreneur Bill Dobbie and CEO Stuart Lunn.[2] Since September 2014, the LendingCrowd platform has delivered more than £500 million in loans for over 3,000 SMEs across Britain [3] In October 2018, LendingCrowd announced the appointment of former Standard Life CEO Sir Sandy Crombie as its chairman.[4]
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Innovative Finance ISA
In February 2017 LendingCrowd became one of the first peer-to-peer business lending platforms to provide the Innovative Finance ISA.[5] Only fully FCA authorised platforms are eligible to offer this product giving investors the opportunity to invest in peer-to-peer lending without having to pay tax on the interest earned.[6][7]
Risk and Regulation
Financial Conduct Authority
LendingCrowd is authorised and regulated by the Financial Conduct Authority (FCA). In November 2016 LendingCrowd became one of the first peer-to-peer lenders to move from interim permissions to fully authorised.[8]
See also
References
External links
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