Summary Description
- Peer to peer lender (individual and SME lending to SMEs)
- Loans 1-3 years tenor
- High quality standard for credit underwriting
- “Auction” process for loan part offers
- Sale of loan parts in secondary market
- Set up to meet regulatory standards
Opportunity/Investment Thesis
- Big banks in UK not lending to SMEs under capital rebuilding pressure
- Increasing evidence of scale ability of individuals to decide own actions in financial services on the web
- Price advantage for lenders vs. deposit rates; savings by borrowers vs. bank fees and spreads