LENDINGCROWD, Scotland’s only specialist peer-to-business crowdlending platform, is confident of future growth ahead as it celebrated its first birthday last week.
Co-founded by CEO STUART LUNN and Chairman BILL DOBBIE, LendingCrowd has facilitated 34 loans totally £1.75m to SMEs across the platform with 1,100 investors
Stuart Lunn, CEO, describes the first anniversary as an important milestone for the company and its future plans for expansion. He said there are a number of initiatives on the horizon, such as the Innovative Finance ISA due to be launched in April 2016.
“The Chancellor has opened up crowdlending to the mass market and the introduction of this new retail investment product indicates just how rapidly the alternative market is evolving. At a stroke, the Innovative Finance ISA will allow people to invest their annual ISA allowance through peer-to-peer platforms without being taxed on any interest they may earn. This is a game changer for the industry and we’re gearing up to lead the crowd.”
Lunn also welcomes the Scottish Government’s intention to establish a Scottish Business Development Bank to support small high-growth businesses.
The picture shows the LendingCrowd management team. From left: Fraser Lusty, Head of Business Development; Seema Paterson, Head of Corporate Affairs; Bill Dobbie, chairman; Stuart Lunn, CEO; Helen McKay, Credit Risk Specialist; and Ian Cunningham, Head of Credit.