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Companies

There are now many companies that offer peer-to-peer, or peer-to-business, lending and borrowing services in the UK.  Zopa was the pioneer in this field, but now there are growing number of others.  Below is a summary of the attributes of all P2P companies within the UK, listed in chronological launch order.

Business Model

Company Launch Date Country Live Target Borrower Lending Model
Individuals
(P2P)
Business
(P2B)
Hybrid Market 1 Auction 2
1 Zopa March 2005 UK • •     • 3
2 Bondora November 2008 Estonia • •       •
3 TrustBuddy January 2009 Sweeden • •     •  
4 Big Carrots September 2009 UK ceased 4
March 2012
  •     •
5 YES-secure June 2010 UK
India
ceased
April 2014
• •     •
6 Funding Circle August 2010 UK •   •     •
7 Quakle October 2010 UK
France
ceased
September 2011
•       •
8 RateSetter October 2010 UK • •     •  
9 ThinCats January 2011 UK •   •     •
10 MarketInvoice February 2011 UK •   •   •  
11 YouAngel March 2011 UK 5   •     •
12 Danesfield June 2011 UK suspended 6
May 2012
•     •  
13 Bank on Dave! September 2011 UK •   •   •  
14 Prêt d'Union October 2011 France • •        
15 One Stop Funding February 2012 UK suspended 7
January 2013
    8 • •
16 The Lending Well March 2012 UK suspended 9
March 2013
•     •  
17 Platform Black April 2012 UK •   •   •  
18 Squirrl.com May 2012 UK ceased
January 2014
  •     •
19 Buy 2 Let Cars June 2012 UK •     8    
20 Funding Knight September 2012 UK •   •     •
21 rebuildingsociety.com September 2012 UK •   •     •
22 Piggy Bank Q3 2012 ? UK no longer 10
offering P2P
Q3 2013
•     •  
23 Mayfair Bridging January 2013 UK • • •   •  
24 Saving Stream January 2013 UK • Not applicable •  
25 Assetz Capital February 2013 UK • 11 •     •
26 Folk2Folk February 2013 UK • • •   •  
27 Gradurates February 2013 UK • •     TBD TBD
28 Funding Secured March 2013 UK offline 12
January 2014
  •   •  
29 LendInvest May 2013 UK • • •   •  
30 Relendex May 2013 UK •   •   •  
31 Funding Secure July 2013 UK • •     •  
32 eMoneyUnion July 2013 UK • •     •  
33 Be The Lender August 2013 UK suspended
August 2014
  •     •
34 Proplend September 2013 UK •   •   TBD TBD
35 Funding Empire October 2013 UK •   •     •
36 QuidCycle November 2013 UK • •     •  
37 Wellesley & Co. November 2013 UK • 13   •  
38 Evolutis Q4 2013 UK suspended 14
June 2014
  15   •  
39 Paper Street Q4 2013 UK •   •   TBD TBD
40 Lending Works January 2014 UK • •     •  
41 Lend Loan Invest January 2014 UK • • •   • •
42 Invest & Fund March 2014 UK •   •     •
43 Funding Tree April 2014 UK •   •     •
44 April 2014 UK • • •   •  
45 Crowd for Angels May 2014 UK •   •   •  
46 Invest and Borrow May 2014 ? UK • •     •  
47 Money&Co. May 2014 UK •   •     •
48 ArchOver June 2014 UK •   •   •  
49 Crowdcube June 2014 16 UK •   •     •
50 Ablrate July 2014 UK •   •   TBD TBD
51 CrowdProperty August 2014 UK •   •   TBD TBD
52 Investly August 2014 Estonia •   •   TBD TBD
53 LendingCrowd September 2014 UK •   •     •
54 October 2014 UK •   •     •
55 estateguru TBD Estonia •   •   TBD TBD
  CrowdEstates TBD UK TBD •     TBD TBD
  reCrowd TBD UK TBD •     TBD TBD
  Elevate TBD UK beta
testing
TBD TBD   TBD TBD
  MintMarket TBD UK beta
testing
TBD TBD   TBD TBD
  MoneyEgg TBD UK beta
testing
  •     •
  FinePeer Q4 2014 UK   TBD TBD   TBD TBD
  Fruitful TBD UK   •       •
  MoneyThing Q4 2014 UK   TBD TBD   TBD TBD
  Trufis TBD UK   TBD TBD   TBD TBD
  civilisedmoney Did not
launch
17
UK   • TBD   TBD TBD
Company Launch Date Country Live Target Borrower Lending Model
Individuals
(P2P)
Business
(P2B)
Hybrid Market 1 Auction 2

1 This is a money market where lenders have offered funds at defined interest rates
2 This is a reverse auction where lenders can bid on loans with the lowest rates winning (also referred to as a listing)
3 Zopa announced on 29th June 2011 that there would not be any new listings after 30th June 2011
4 BigCarrots did not respond to any emails and their website went offline in March 2011
5 Loans are available but there is limited supply from lenders
6 Danesfield have not replied to any emails and their website states that no new loans are being made
7 One Stop Funding are no longer seeking lenders as of January 2013
8 Hybrid model where borrower is actually the peer-to-peer provider
9 The Lending Well announced that they are withdrawing from the payday loan market and will be moving into others soon
10 Not offering peer-to-peer lending
11 Buy-to-let only for individuals
12 Funding Secured Website went offline in January 2014
13 Bridging and development loans for individuals, small businesses including sole traders and property development companies
14 Closed to new lenders and borrowers while business is restructured
15 Only lends to Legal, Accounting, Medical and Veterinary professionals
16 Date peer-to-peer offering launched
17
civilisedmoney latest P2P launch date was Q2 2012; originally planned for Q1 2012 when civilisedmoney launched in 2011

Loan Terms

There are a wide range of loan terms available.  These are shown from the perspective of the borrower.

Company Type Early Repayment Interest Loan Term (months)
Repayment Interest
Only
Term 1 Hybrid Fixed
Rate
Variable
Rate
 1   3   6   9  12 18 24 30 36 48 60
Zopa •       • •           •   •   • • •
Bondora Not applicable in the United Kingdom
TrustBuddy Not applicable in the United Kingdom
YES-secure •       • •           •   •   • • •
Funding Circle •       • •           •       •   •
Quakle •       • •           •   •   •    
RateSetter •       • •             • •   • • •
  •     •   • 1 month to 2 years      
ThinCats • •     • •       6 months to 5 years
YouAngel • •     • •       •   • • •   •    
Buy 2 Let Cars       •   •                   •    
Funding Knight •       • •       any term from
6 months to 5 years
rebuildingsociety.com •       • •       6 months to 5 years
Mayfair Bridging   •     • •   up to 9
months
             
Folk2Folk   •     • •     typically 3 months to 5 years
Saving Stream     •   • •   typically up to
12 months
           
Assetz Capital • •   • • •     typically 3 months to 5 years
Funding Secured • •           typically 1 month to 5 years or more
LendInvest • •     • •     typically 3 months to 5 years
Funding Secure     •   • •   1 to 18
months
       
eMoneyUnion •       • •           •   •   • • •
Be The Lender • •     • •           typically 1 to 12 years
Proplend   •     • •       any term from
6 month to 5 years
Funding Empire •       • •       any term from
6 month to 5 years
QuidCycle •       • •           •   •   • • •
Wellesley & Co. •     • • •   any term from
1 month to 5 years
Evolutis •       • •           •   •   • • •
Lending Works •       • •           •   •   • • •
Lend Loan Invest •       • •           any term from
1 year to 5 years
Invest & Fund •       • •       •   • • • • • • •
•         • 2                 •    
Crowd for Angels   •     • •       • • • • • • • • •
Invest and Borrow     •   • •     3 to 6
months
               
Money&Co. •       • •                   •   •
LendingCrowd •       • •       •   • • • • • • •
Company Type Early Repayment Interest Loan Term (months)
Repayment Interest
Only
Term 1 Hybrid Fixed
Rate
Variable
Rate
 1   3   6   9  12 18 24 30 36 48 60

1 Capital and interest repaid at end of term
2 Tracks bank of England base rate

Company Size

Detailed company loan size are shown in the statistics.

Payment Attributes

Companies support various payment mechanisms for lenders and borrowers.

Company Debit
Card
Faster
Payments
BACS CHAPS Direct
Debit
PayPal Through
IFA
Zopa 1 • •   • 1  
Funding Circle • • •   2    
Quakle   • •   2    
RateSetter 3 • •   2    
ThinCats   • •   2    
YouAngel   • •        
Buy 2 Let Cars   • •        
Funding Knight   • •        
rebuildingsociety.com   • •     •  
Mayfair Bridging             •
Folk2Folk   • • •      
Assetz Capital • • • •      
LendInvest   • • •      
Funding Secure     • •      
eMoneyUnion 4 • • • 2    
Be The Lender   • •   2    
Funding Empire   • • •      
QuidCycle   • • •      
Wellesley & Co. • • • •      
Evolutis   • • • •    
Lending Works   • •   •    
Lend Loan Invest • • •   ? •  
Invest & Fund   • •        
5 • •   •    
Crowd for Angels 6 • •   •    
LendingCrowd • • • •      
Company Debit
Card
Faster
Payments
BACS CHAPS Direct
Debit
PayPal Through
IFA

1 This payment method had been offered previously, but was withdrawn
2 Borrowers only
3 Debit card payments now incur a £1.50 fee
4 Payments over the phone only
5 Debit card payments under £500 incur a £1 fee
6 Coming soon

Lending Types

All P2P companies covered on the P2P money website will allow lending by individuals, but some will allow lending by businesses, provided their business isn't money lending.  In addition some companies allow lending though a SIPP, or investment fund.

Company Type Location Currency
Individual Company 2 SIPP 3 Fund UK EU World £ €
Retail 1 High Net
Worth
Sophisticated
Investor
Zopa • • • • 4   •     •  
Bondora • • • •     • •     •
Big Carrots • • •       •     •  
YES-secure • • • •     •     •  
Funding Circle • • • •     •     •  
RateSetter • • • ?     •     •  
ThinCats • • • • • 5 •     •  
MarketInvoice   • • •     •     •  
YouAngel • • • •     • •   •  
Buy 2 Let Cars • • • •     • • • •  
Funding Knight • • • •     • 6 6 •  
rebuildingsociety.com • • • • •   • •   • •
Mayfair Bridging   • • • • • • • • •  
Folk2Folk • • • • •   •     •  
Saving Stream • • • •     •     •  
Assetz Capital • • • • •   • • • •  
Funding Secured • • • •     •     •  
LendInvest • • • •     •     •  
Funding Secure • • •       •     •  
eMoneyUnion • • •       •     •  
Be The Lender • • • •     • •   •  
Funding Empire • • • •     • 7 7 •  
QuidCycle • • • •     •     •  
Wellesley & Co. • • • • • • • • • •  
Evolutis • • • •     •     •  
Lending Works • • •       •     •  
Lend Loan Invest • • • •     •     •  
Invest & Fund • • • •     •     •  
• • • •     • •   •  
Crowd for Angels • • • •     •     •  
Invest and Borrow • • •       •     •  
Money&Co. • • • •     •     •  
LendingCrowd • • •       •     •  
Company Type Location Currency
Individual Company 2 SIPP 3 Fund UK EU World £ €
Retail 1 High Net
Worth
Sophisticated
Investor

1 An individual who is not a high net worth individual or a sophisticated investor
2
Business lending to individuals (B2P) requires a consumer credit license, however lending to other businesses (B2B) is exempt
3
A self invested personal pension
4 Zopa explored this opportunity but decided against it
5 This should be available through Innvotec with a minimum £5000 subscription
6 By invitation
7 At companies discression

Lending Terms

Most peer-lenders have the same terms for lenders and borrowers, however RateSetter have split their products so there can be different products and terms between lenders and borrowers.

Company Type Early Repayment Interest Loan Term (months)
Repayment Interest 1 Term 2 Hybrid Fixed
Rate
Variable
Rate
 1  3  6  9 12 18 24 30 36 48 60
Zopa •       •   •         •       •   •
Bondora •       • •   • • • • • • •   • • •
Big Carrots •       ? •     3 months to 2 years    
YES-secure •       • •           •   •   • • •
Funding Circle •       • •           •       •   •
RateSetter •       • • • •               •   •
  •     • • •         •            
ThinCats • •     • •       6 months to 5 years
YouAngel • •     • •       •   • • •   •    
Danesfield •       • •       •   • • •   • •  
One Stop Funding •       • •                   •    
The Lending Well     •     •   •                    
Squirrl.com •         •               typically
2 to 5 years
Buy 2 Let Cars       •   •                   •    
Funding Knight •         •       any term from
6 months to 5 years
rebuildingsociety.com •       • •       6 months to 5 years
Mayfair Bridging   •     • •   up to 9
months
             
Folk2Folk   •     • •     typically 3 months to 5 years
Saving Stream   •     • •   typically up to
12 months
           
Assetz Capital • •   • • •     typically 3 months to 5 years
Funding Secured • •       •   typically 1 month to 5 years or more
LendInvest •       • •     typically 3 months to 5 years
Funding Secure     •   • •   1 to 18
months
         
eMoneyUnion •       • •           •   •   • • •
Be The Lender •     • • •     typically 3 months to 5 years
Funding Empire •       • •       any term from
6 months to 5 years
QuidCycle •       • •           •   •   • • •
Wellesley & Co. •   •   • •             •     • • •
Evolutis •       • •           •   •   • • •
Lending Works •       • •           •   •   • • •
Lend Loan Invest •       • •           any term from
1 year to 5 years
Invest & Fund •       • •       •   • • • • • • •
•         •                   •    
Crowd for Angels   •     • •       • • • • • • • • •
Invest and Borrow     •   • •     3 to 6
months
               
Money&Co. •       • •                   •   •
LendingCrowd •       • •       •   • • • • • • •
Company Type Early Repayment Interest Loan Term (months)
Repayment Interest 1 Term 2 Hybrid Fixed
Rate
Variable
Rate
 1  3  6  9 12 18 24 30 36 48 60

1 Capital repaid at end of loan term
2 Capital and interest repaid at end of loan term

Lending Attributes

The lending attributes are those that set peer-to-peer lending aside from classic savings accounts.

Company Uniform
Rate 1
Taxed at
Source 2
Automated
Lending
Automatic
Rebid
Secured
on Asset
Bad Debt
Provision 3
Automatic
Diversification
Other
Benefits
Zopa 4   •     5 6  
Bondora •   •          
Big Carrots                
YES-secure     •     7    
Funding Circle     •   8      
RateSetter     •     •    
ThinCats 9   • • •      
YouAngel •   •   10 •    
Danesfield •   •     •   11
The Lending Well •   •     •    
Squirrl.com   • •          
Funding Knight     •   12      
rebuildingsociety.com     •   13     14
Mayfair Bridging •       •      
Folk2Folk •   •   •      
Saving Stream •   •   •      
Assetz Capital     •          
Funding Secured     •   •      
LendInvest         •      
Funding Secure •       •      
eMoneyUnion     •   • •    
Be The Lender     ?   • •    
Funding Empire     15   •      
QuidCycle     •     •    
Wellesley & Co. •   •   • • 16 11
Evolutis •   •     •    
Lending Works     •     •    
Lend Loan Invest     •     •    
Invest & Fund     •   17      
    •   • 18 •  
Crowd for Angels •       19      
Invest and Borrow •   •     •    
Money&Co.     • • 13      
LendingCrowd         19      
Company Uniform
Rate 1
Taxed at
Source 2
Automated
Lending
Automatic
Rebid
Secured
on Asset
Bad Debt
Provision 3
Automatic
Diversification
Other
Benefits

1 All lenders will receive the same interest rate
2 Tax has to be paid on interest, but some will deduct tax at source
3 This provision fund and/or insurance will attempt to repay lenders any monies lost to bad debt, but this isn't guaranteed if bad debt is more than the fund and/or insurance
4 All users will receive a uniform rate for the "safeguard" offer; Zopa originally used this method on all loans
5 Protection available for "safeguard" offer
6 Money is spread between multiple borrowers as a function of balance
7 YES-secure originally offered a form of insurance against bad debt for an increased fee, but this was withdrawn
8 Some loans have personal guarantees from the director(s), and some loans over £100,000 will be secured against assets
9
Some ThinCats loans have had a uniform rate
10
Borrower able to offer a personal guarantee
11 Interest paid on unlent funds
12 Unsecured loans will have personal guarantees, and bridging loans will be secured on assets
13 Borrowers have the choice of offering business assets or personal guarantees as security
14 A bonus of 20% of company profits will be paid to members pro-rated by the number of points they have acquired
15 Coming in Q2 2014
16 Funds are automatically diversified to reduce expose to any one borrower
17 Some loans have personal guarantees from the director(s), and all loans over £50,000 will be secured against assets
18
Protection fund available for loans up to 60% loan to value
19 Some loans will be secured against assets

Lending Attributes 2

These attributes are on a per-loan basis.

Company Loan Amount Interest Rate (AER) Lending Fees 1
Minimum Maximum Minimum Maximum Step Unlent 2 Offset Percentage Other
Zopa £10 3 1% 20% 3 0.1% 3 none 1% none none
Bondora €5 TBD TBD TBD TBD none none none €0.38 4
Big Carrots £25 unknown 5% 16% unknown none unknown none none
YES-secure £10 10% 5, 6 7 10%
to
18% 8
0.1% none 0.9% none none
Funding Circle £20 unlimited 8 15% 0.1% none 1% none none
RateSetter £10 unlimited 0.1% unlimited 0.1% none none none none
ThinCats £1000 unlimited none 15% 0.01%
to
0.25%
none none none £48 9
YouAngel £100 unlimited 0.001% unlimited 0.001% none none none none
Danesfield £50 £50 5.5% 7.75% 10 1.75% 0.5% none none
One Stop Funding £1,350 unlimited 9% 20% 1% none none TBD 11 none
The Lending Well £10 unlimited 12% 10 none none 96.7% 11 none
Platform Black £50,000 unlimited 0.5% 12 TBD TBD TBD TBD TBD
Buy 2 Let Cars £7000 9.98% 10 none none TBD 11 none
£13,500 13.79%
Funding Knight £25 20% 13 10 none none none none
rebuildingsociety.com £10 £2000 1% 8 1% none none none 14
Mayfair Bridging £25,000 £3,000,000 10 none none none none
Folk2Folk £25,000 unlimited 7% 10% 0.5% none none none none
Saving Stream £100 unlimited 12% 10 none none none none
Assetz Capital £20 unlimited 7% 15% 0.1% none none none none
7% 10
Funding Secured £25,000 unlimited 5% 12% 10 none none none none
LendInvest £10,000 unlimited 6% 14% 10 none none TBD none
Funding Secure £25 £25,000 13% 10 none none none none
eMoneyUnion £20 £10,000 6% 12% 1% none 28.8%
  to 11
43.7%
none none
Be The Lender £100 TBD 10% 15% TBD none TBD TBD TBD
Funding Empire £20 £2,000 6 4% 15% 0.1% none none none none
QuidCycle £100 TBD 3% 10% TBD none TBD TBD TBD
Wellesley & Co. £10 unlimited 5.5% 7.5% 10 15 none none none
Evolutis £10 unlimited 7.0% 13.6% 10 none none none none
Lend Loan Invest £10 unlimited TBD TBD TBD none 0.5%
+ 2p
none none
Lending Works £10 unlimited 0.1% unlimited 0.1% none none none none
Invest & Fund £25 unlimited 5% 15% 0.1% none 1% none none
£100 unlimited 3.5% 12.0% 0.1% none none none none
Crowd for Angels £25 unlimited 6% 13% 0.1% none none none none
Invest and Borrow £10 £2000 16 7.35% 10 none none none none
Money&Co. £10 unlimited 17 unlimited 0.1% none 1% none none
Crowdcube £500 unlimited  6% 10  9% 10 10 none TBD TBD TBD
LendingCrowd £20 unlimited 8 20% 0.1% none 1% none none
Company Loan Amount Interest Rate (AER) Lending Fees 1
Minimum Maximum Minimum Maximum Step Unlent 2 Offset Percentage Other

1 Current fees (lower fees may have been available to previous members)
2 Earnings on money that has been offered but not yet lent out
3 Safeguard offer has the rate and exposure set by Zopa which lenders cannot adjust
4 Withdrawal fee
5 Normal limit of 10% of any one loan, unless there is a "connection" to the borrower where this limit is increased to 15%
6 There are no limits on the number of bids, making this limit non-binding
7 Negative returns are possible on purchase of resale loan parts
8 This rate is a function of the market and the loan type, which is shown below
9
One time anti-money laundering fee
10 Lenders are not able to specify the interest rate as this is set by the company
11 Lending rates are after fees have been deducted
12 Maximum lending rate set by business
13
Normal limit of 20% of any one loan, without the prior agreement of FundingKnight
14 In the unlikely event that a repayment is late, or only part paid, you can pay a 5% chasing fee to be at the front of the queue for repayments
15 Interest paid on unlent money at prevailing rate
16 Maximum that can be lent across the site
17
Minimum rate is estimated bad debt plus fees

Funding Circle minimum lending rates

Company Business (P2B)
Funding Circle A+ A B C C-
6.0% 8.0% 9.0% 10.2% 12.2%

ReBuildingSociety maximum lending rates

Company Business (P2B)
rebuildingsociety.com A B C
14% 17% 20%

LendingCrowd minimum lending rates

Company Business (P2B)
LendingCrowd A+ A B+ B C+
5.95% 7.95% 8.95% 10.35% 12.25%

Bad Debts

Most providers have published estimates on expected bad debts for lenders.  Detailed bad debts are shown in the statistics.

Company Predicted Bad Debt 1 Actual Bad Debt 1 Comparison 2
Annual Lifetime Lifetime Lifetime
Range
(AER)
Range Weighted
Average
Range Weighted
Average
Range Weighted
Average
Quarterly
Change
1 Funding Circle 0.6%
to
5.0%
1.2%
to
10.6%
4.52% 0.83%
to
2.15%
1.42% +9.06%
to
+0.37%
+3.08% :-(
2 RateSetter N/A < 1.7% 0.49%
 (0.00%) 4
< +1.21% N/A
3 Folk2Folk < 1.0% < 1.0% 0.00% < +1.00% :-|
4 Buy 2 Let Cars 0.0% 0.00% 0.00% 0.00% :-|
  Funding Knight 0.5%
to
2.0%
TBD TBD 0.00%
to
0.91%
0.47% TBD TBD N/A
  YES-secure 1.5%
to
11.0%
3.0%
to
25.0%
7.92% 6.47%
 to 5
24.87%
17.82% +18.53%
 to 5
-21.87%
-9.90% N/A
  YES-secure
Encash
1.5%
to
11.0%
3.0%
to
25.0%
9.84% 0.00%
to
23.01%
 6.53% 8 +25.00%
 to
-15.73%
 +3.31% 8 N/A
  Quakle N/A 1.0%
to
3.0%
< 3.0% > 50.00% 6 < -47.00% 6 N/A
  Zopa 0.3%
to
5.2%
0.3%
 to 3
11.0%
7 7 7 7 7 N/A
  ThinCats 1.0% 1.0% 7 7 N/A
  Squirrl.com < 1.0% < 1.0% 7 7 N/A
  rebuildingsociety.com 0.5%
to
3.9%
TBD TBD 7 7 N/A
  Assetz Capital < 1.0% < 1.5% 9 9 N/A
  Funding Secure 1.5% 2.1% 9 9 N/A
  eMoneyUnion < 1.0% < 1.0% 9 9 N/A
  Be The Lender < 1.0% < 1.0% 9 9 N/A
  Funding Empire 1.0% < 1.5% 9 9 N/A
  QuidCycle < 0.3% TBD 9 9 N/A
  Wellesley & Co. < 1.0% 1.0% 0.00% 8 +1.00% 8 N/A
  Evolutis TBD TBD 9 9 N/A
  Lending Works 1.0% 1.54% 0.00% 8 +1.54% 8 N/A
  Lend Loan Invest TBD TBD TBD 9 9 N/A
  0.1% TBD TBD 9 9 N/A
  Crowd for Angels 0.0%
to
2.0%
0.0%
to
2.0%
9 9 N/A
  Money&Co. 0.5%
to
1.5%
TBD TBD 9 9 N/A
  LendingCrowd TBD TBD TBD 9 9 N/A
Company  Predicted Bad Debt 1 Actual Bad Debt 1 Comparison 2
Annual Lifetime Lifetime Lifetime
Range
(AER)
Range Weighted
Average
Range Weighted
Average
Range Weighted
Average
Quarterly
Change

1 Data valid as of 30th May 2014; bad debt can take months to years to materialise, and therefore the actual bad debt figure may not be fully representative, especially when a company's loan book is growing at a significant rate (for example for the first two years Zopa's bad debt was 0.05%)
2 Comparison of actual bad debt against predictions, with a positive number indicating a better than expected bad debt and a negative number indicating worse than expected bad debt, with change from previous month indicated
3 Listings are excluded from the comparison (figures in brackets) as Zopa did not provide estimated bad debts for these loans
4 Due to the provision fund, no lender on RateSetter has experienced any bad debt, and the bad debt covered by the provision fund is shown in brackets
5 The A+, A and B markets have all experienced significantly worse than expected bad debt, but conversely the D market has experienced better than expected bad debt, but given the wide variation caution should be taken of credit bands
6 Estimate based on feedback on the Quakle Facebook group and the Quakle forum (before it was shutdown)
7 No data is currently available
8 Too soon to draw any conclusion
9 It would be too soon to draw any conclusion, but no data is currently available

Late Loans

Detailed late loans are shown in the statistics.

Resale Attributes

Lenders are able to sell some or all of their loans on some peer-to-peer platforms.

Company Resale
Loans
Restrict 1
Late Loans
Restrict 2
CCL Loans
Resale
Premium
Sale
Fee
Purchase
Fee
Zopa 3 • •   1% none
Funding Circle • 5   ±3% 0.25% none
Quakle            
RateSetter •       6 none
ThinCats •       1%
max £25
none
YouAngel 7          
Buy 2 Let Cars            
Funding Knight • TBD TBD TBD 1% TBD
rebuildingsociety.com •     ±5% 0.5% none
Mayfair Bridging            
Folk2Folk •     none 0.25% none
Saving Stream •     TBD TBD TBD
Assetz Capital •     none 0% none
LendInvest •     TBD TBD TBD
eMoneyUnion • •   ±3% 0.25% none
Be The Lender •     ±10% 0.5% none
Funding Empire 7 •   none 0.5% none
QuidCycle            
Wellesley & Co. •     none TBD none
Evolutis            
Lending Works • TBD     0.6%
minimum
£20
none
Lend Loan Invest            
Invest & Fund •     ±3% 0.25% none
• •     1%  
Crowd for Angels            
Company Resale
Loans
 Restrict 1
"Late" Loans
 Restrict 2
CCL Loans
Resale
Premium
Sale
Fee
Purchase
Fee

1 Any loans that have ever had a missed payment
2 Any loans that were made with a consumer credit license
3 All loans for a particular market must be sold together
4 Lenders can opt to pay an additional 1% fee (total 2% fee) for a "premium listing"
5 Loans are restricted if they have suffered three late payments in a row, or have dropped more than one credit grade
6 Lenders pay 0.25% plus the difference in interest rate between the current loan and the rate they would have achieved if they lent the money over the period before selling, would could be several percentage points
7 No resale service exists currently, but the company is exploring the possibility
8 No resale service exists currently, but the company would try to help in "exceptional circumstances"
9 Lenders pay a fee which is the difference in interest rate between the current loan and the rate they would have achieved if they lent the money over the period before selling, and this will never be more than the interest received

Borrowing Attributes

These attributes are shown for all companies that offer a standard peer-to-peer or peer-to-business model.

Company Minimum
Loan
Maximum
Loan
Secured
on Asset
Time 1 Location
Eng Wales Scot NI
Zopa £1000 £20,000   immediate • • • •
Funding Circle £5000 4 £1M 5 6 up to
14 days 3
• • • •
Quakle £1000 £21,000   10 days • • • •
RateSetter £1500 7   up to
7 days 8
• • • •
ThinCats £50,000 £3M • up to
21 days 9
• • • •
YouAngel TBD unlimited 10 11 7 to 14
days
• • • •
Funding Knight £25,000 £250,000   7 to 21
days 3
• • • •
£100,000 £500,000 • • •    
rebuildingsociety.com £2000 £250,000   TBD • • • •
Mayfair Bridging £25,000 £3M • up to
10 days 3
• • • •
Folk2Folk £25,000 unlimited 10 • 8 to 10
days
• • • •
Assetz Capital £25,000 £5M • 7 to 21
days
• • • •
Funding Secured £25,000 unlimited 10 • TBD • • • •
LendInvest £100,000 £5M • TBD • • • •
Funding Secure £500 £500,000 • up to
21 days
• • • •
eMoneyUnion £1000 £10,000 12 2 to 7
days
• • • •
Be The Lender £20,000 £10M • TBD • • • •
Funding Empire £5000 £100,000 13 14 days • • • •
Wellesley & Co. £50,000 £1M • up to
5 days
• • • •
QuidCycle £100 £25,000   up to
14 days
• • • •
Lend Loan Invest £1000 £25,000   TBD • • • •
Lending Works £1000 £15,000   3 days • • • •
Invest & Fund £5000 £1,000,000 14 up to
14 days
• • • •
£50,000 £500,000 • up to
2 days
• • • •
Crowd for Angels £25,000 unlimited 10 15 TBD • • • •
Invest and Borrow £100 £2000   TBD • • • •
Money&Co. £50,000 £2,000,000   typically
14 days
• • • •
£3,000,000 •
Company Minimum
Loan
Maximum
Loan
Secured
on Asset
Time 1 Eng Wales Scot NI
Location

1 Time between application and obtaining an offered APR where the borrower can start to draw down the loan
2 Currently limited to between £2000 to £4000 by available funds
3 As soon as loan is 100% funded
4 Minimum for non-limited companies is £25,000
5 The C market is currently limited to £100,000
6 Some loans have personal guarantees from the director(s), and some loans over £100,000 will be secured against assets
7 Every borrower is given an individual limit depending on their credit history and financial position, typically around £15,000
8 Immediate if funds are available at the rate requested
9 Need to find a sponsor before applying
10
Limited only by the funds available
11
Borrower able to offer a personal guarantee
12 Borrower requires a personal guarantor
13 Loans can be secured, but all loans over £50,000 are secured
14 Loans up to £50,000 will have personal guarantees from the director(s) as a minimum; loans over £50,000 will have additional security
15 Some loans will be secured against assets

Borrowing Fees

Company Type Application
Fee
Legal
Fee
Borrowing Fee Early
Repayment
Fee
Redemption
Fee
Completion Annual
Zopa all none none £0
  to 1
£330
none none none
Funding Circle all none none 3 none none none
Quakle all none none £100 none none none
RateSetter all none none 4 none none none
ThinCats all £450 5 none 1% 0.5% none none
YouAngel all  £50 6 none £50 +
1.2% 6
none none none
Funding Knight all £250
refunded on
taking out loan
none 9 1.0% TBD none
rebuildingsociety.com all none none none 1.9%
to
4.9%
none none
Mayfair Bridging all TBD TBD TBD TBD TBD TBD
Folk2Folk all none 10 2%/2.5% none 3 months
interest
£150
+ VAT
Assetz Capital all from
2.5%
11 none 1.5% TBD TBD
Funding Secured all £199 TBD 2% none TBD TBD
LendInvest all none TBD 2% none TBD none
Funding Secure all TBD none none 15.4%
to
32.9%
12 Postage
cost
eMoneyUnion all none none £195
to
£295
none 1 months
interest
none
Wellesley & Co. all none £1250
to
£5000
2 to 3% 14 6 months
interest
6 months
interest
Evolutis all TBD TBD TBD TBD TBD TBD
Lending Works all TBD none TBD TBD none none
Lend Loan Invest all none none £70 +
up to 3%
none on
request
none
Invest & Fund all TBD TBD TBD 15 TBD TBD
all TBD 1.5% 0.5% TBD TBD
Crowd for Angels all none £1750 3.5% none none none
Money&Co. all £150 16 1.5%
to 5%
TBD TBD TBD
Company Type Application
Fee
Legal
Fee
Borrowing Fee Early
Repayment
Fee
Redemption
Fee
Completion Annual

1 Zopa fee structure became variable on 2nd December 2011, which is detailed separately
2 A non-refundable application fee of £5 is charged for personal borrowers and a £50 fee is charged for business borrowers
3 Funding Circle charge different fees for depending on the term and size of loan, which is shown below
4 RateSetter charge different fees for the fixed or rolling terms, which is shown below
5 The listings fee is refunded if the auction does not result in an acceptable loan offer; higher fee for business loans
6 Fees waived currently
7 One-off identify fee required
8 Fees vary depending on supplier
9 FundingKnight charge different fees for the fixed or rolling terms, which is shown below
10 Folk2Folk charge different fees, which is shown below
11
Legal fees by negotiation
12 None, subject to a minimum 30 days interest and fees
13 Funding Empire charge different fees, which is shown below
14 Borrower pays difference between lender rate and 10.2%
15 Invest & Fund charge different fees for depending on the loan term, which is shown below
16 Legal fees in addition

Funding Circle borrowing fees

Funding Circle have a simple fee structure depending on the duration of the loan.

Company Fee
Funding Circle Term  6 12 24 36 48 60
£5,000+ 2% 3% 4%

RateSetter borrowing fees

RateSetter have a simple fee structure.  The credit fee depends on the credit rating of the borrower.  These fees are to be confirmed following the change in lending fees.

Company Fee
RateSetter Market Monthly
Access
Fixed Term
Term 1-24 18 24 36 60
£2000+ £50 +
£5 per
month
TBD TBD £120 +
0.5% to 4.0%
credit fee
TBD
£5000+ £60 +
0.5% to 4.0%
credit fee

FundingKnight borrowing fees

FundingKnight have a simple fee structure depending on the duration of the loan and the amount.

Company Fee
Funding Knight Term 1+ 13+ 25+ 37+ 49+
£10,000+ 2.5% 3% 3.5% 4.0% 4.5%

Folk2Folk borrowing fees

Folk2Folk have a fee structure depending on the amount of the loan and number of titles.

Company Fee 1
Folk2Folk Titles 1 2 3 4 4+
£0+ £450 £550 £600 £650 2
£100k+ £525 £675 £725 £775 2
£300k+ £595 £745 £795 £825 2
£500k+ £695 £895 £945 £995 2
£750k+ £795 £1020 £1070 £1120 2
£1M+ 2 2 2 2 2

1 Fees exclusive of VAT
2 Notified after application

Funding Empire borrowing fees

The completion fee depends on the how long the company has been trading for.

Company Fee
Funding Empire Term 0-12 12-24 24-36 36-48 48-60
Trading
<2 years
4.0% 4.5% 5.0% 5.5% 6.0%

Minimum £250

Trading
>2 years
2.0% 2.5% 3.0% 3.5% 4.0%

Invest & Fund borrowing fees

Invest & Fund have a simple fee structure depending on the duration of the loan.

Company Fee
Invest & Fund Term 6 12 18 24 36 48 60
£5000+ 2.0% 3.0% 4.0%

Memberships & Registrations

All peer-to-peer companies are now required to have interim permission from the FCA.  There are now two specific association have been setup for peer-to-peer lending and business finance.  These organisations will have rules that are designed to offer customers additional reassurance.  Click on the organisations for further information.

Company FCA P2P Finance Association UK CFA Next Generation Finance Consortium CIFAS
Zopa • •     •
Bondora •        
TrustBuddy          
Funding Circle • •   • •
Quakle          
RateSetter • •     •
ThinCats • •      
MarketInvoice   •   •  
YouAngel          
Danesfield          
Bank on Dave! •        
Prêt d'Union          
One Stop Funding          
The Lending Well •        
Platform Black          
Buy 2 Let Cars 1        
Funding Knight •   •    
rebuildingsociety.com •   •    
Mayfair Bridging 1        
Saving Stream 2        
Assetz Capital •        
Folk2Folk •        
Gradurates •        
LendInvest 1 • •    
Funding Secure •        
eMoneyUnion 3        
Be The Lender •        
Proplend •        
Funding Empire •   •    
QuidCycle •   •    
Wellesley & Co. • 4      
Evolutis •        
Paper Street 1        
Lending Works • •     •
Lend Loan Invest • •      
Invest & Fund •        
Funding Tree 5        
• •      
Crowd for Angels 5        
Invest and Borrow 6        
Money&Co. 1, 7   •    
ArchOver •        
Crowdcube 5        
Ablrate 1        
CrowdProperty •        
Investly          
LendingCrowd •        
CapitalStackers •        
Crowd Mortgage •        
estateguru          
MoneyEgg          
Company FCA P2P Finance Association UK CFA Next Generation Finance Consortium CIFAS

1 Registered with the FCA, but does not currently hold peer-to-peer lending interim permission
2
Parent Lendy Ltd registered with the FCA
3
Parent eMoneyHub Ltd registered with the FCA
4 Resigned from the P2P Finance Association November 2014
5 Fully registered with the FCA
6 Parent WDFC UK Limited registered with the FCA
7 Parent Denmark Square Limited Limited registered with the FCA

Map

Map (larger version) of peer-to-peer companies within the United Kingdom.

Information taken direct from each of the companies listed above, unless otherwise stated.  Please also refer to the disclaimer.