Edinburgh-based peer-to-peer (P2P) lender LendingCrowd has started a £50 ‘refer a friend’ promotion as strong demand from borrowers continues to increase.
LendingCrowd is the country’s only headquarted P2P lender and has established a strong presence across the UK since being launched just under three years ago.
The platform, which is fully authorised by the Financial Conduct Authority, allows investors to make deals with individual companies, and launched a ‘Self-Select ISA’ in May, allowing investors to hand-pick a portfolio.
LendingCrowd has over 4,000 investors signed up to its platform. Deals range in size from £20,000 to over £1 million – and in 2015 LendingCrowd helped Diet Chef complete one of the biggest ever peer-to-business deals seen in the UK in a £1.5m debt finance transaction.
The new promotion, which follows a record quarter for new loans, will allow investors to be given a £50 bonus when a friend they have referred to the platform invests at least £2,000.
“We have more than 4,000 investors signed up with our platform and we’re keen to build our investment community to help support the ambitions of home-grown businesses, generating real knock-on benefits for the local economy,” said Stuart Lunn, co-founder and CEO of Edinburgh-based LendingCrowd.
“With official data showing that inflation has risen to 3%, its highest level since April 2012, investors are seeking ways of making their money work harder. LendingCrowd provides an easy way for them to diversify their investment portfolios while benefiting the UK’s SMEs.”