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Crowdfunding of Business Loans

RATM · 2013-05-31 14:04:31

Interesting new website aimed at the Irish market here https://www.linkedfinance.com/business-loans/finance/themarketplace.html It is peer to peer lending with business loans for 3 years. The interest rate is set by an auction. It's not a new idea but new to the Irish market and a welcome addition IMO. My guess is that it…

31-05-2013 2:04pm

#1

RATM

Closed Accounts Posts: 3,591 ✭✭✭

Join Date: November 2006

Posts: 3212

Interesting new website aimed at the Irish market here
https://www.linkedfinance.com/business-loans/finance/themarketplace.html

It is peer to peer lending with business loans for 3 years. The interest rate is set by an auction.

It's not a new idea but new to the Irish market and a welcome addition IMO. My guess is that it is going to prove very popular with people who have a few quid to invest but want to byoass the banks.

Not too sure about the credit rating system though, you are putting all the due diligence into the websites hands who then explain it using a simplistic star rating. Also in the event of a loan defaulting the website will chase them for payment "where possible", bit of a large caveat that.

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