The Scotsman

Lendingcro­wd cheers record month for deals

- By SCOTT REID

Lendingcro­wd, the Edinburgh-based peer-to-peer (P2P) platform, completed loan deals totalling more than £3 million during May, marking its best-ever month.

Despite May having two bank holidays, the platform also saw its deal volumes reach a fresh record as it secured loans for 36 small business covering a range of sectors across the UK.

Adrian Innes, head of originatio­n at Lendingcro­wd, said: “It was a great team effort to get to this milestone, helped by our improved processes and a fantastic working relationsh­ip with our community of introducer­s.

“Not only was May a record for us in terms of the total value of loans, the number of deals completed also hit a new high, up 40 per cent compared with our previous best.”

Lendingcro­wd is targeting total lending of about £40m for 2018, more than double the figure for last year. It comes after the company secured £2m of external funding.

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