I was a P2P lender with this bunch. They had a data breach in 2019. In 2020, under cover of Covid, they blocked lenders like me from getting our cash out. I finally got the remnants out in 2026. Durin... See more
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We have been using Lending Crowd for a number of years, Joe Hayllor is our contact. The process is always brilliant and straight forward. They have funded an application of mine this month and the cus... See more
Company replied
I am a borrower Contacted several companies who despite having my own freehold home , a great rental income and other assets refused to loan me even $5000! Lending Crowd were onto it I was ful... See more
I've divested most of my funds from LC now and no longer invest. I still have a number of loans with them which I will let run their course and some bad debt. I feared the worst when the pandemic stru... See more
Company details
Written by the company
LendingCrowd is a financial technology (fintech) lending platform that launched in 2014 to fund the ambitions of businesses the length and breadth of Britain. To support Britain’s vibrant and growing community of small and medium-sized enterprises, our leading-edge technology gets fast and flexible funding to where it’s needed most, helping them grow. Our innovative online platform is complemented by our highly experienced Credit Team, which oversees each loan application. We aim to deliver an outstanding customer experience and offer clear, transparent, rapid business terms and processes.
Contact info
United Kingdom
- www.lendingcrowd.com
3.6
Average
42 reviews
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Only worth considering as a tax write-off!
This company has all the regulatory authorisations available, and the investor interface is flexible and fun to operated if you want a hands- on experience - with automated options if you don't! The bid auctions for new loan interest rate can be fun, but also frustrating when late big bids are received which can knock out whole tranches of retail submissions. Unfortunately it's downhill from there: Credit assessment and due diligence are suspect, validation of proposals is lacking and credit control of defaults is woeful. When the worst happens default reporting is lackadaisical, actions are slo-mo and recoveries to date are zero.
Smaller investors going for an evenly diversified portfolio have so far suffered a higher proportion of losses because defaulters have exclusively been among smaller loans - hence the monetary proportion of losses across the platform is less than the number of loans affected (5 / 15%).
In summary, best left to the big boys with 6/7 figure portfolios.
April 17, 2017
Unprompted review
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