To get a business loan via p2p platforms such as Money&Co., you apply online. Here’s the practical process: You can apply for loans by contacting the site and filling in a short questionnaire.
We will check your company’s finances and if we think it is creditworthy, we will give it a risk rating. The ratings range from A+ for the most creditworthy company, through A, B+, B and C+, with C+ being the riskiest category.
We have to do a series of checks on your company and on you. We check out the lenders to make sure they’re not involved in money laundering and are suitable to blend. We execute exactly the same series of checks on you.
P2P Business Loan, minimum requirements
The minimum requirements to get a business loan via Money&Co. is three years’ filed accounts, a minimum company turnover of £100,000, profitability in at least the last full financial year, and possession of UK company or limited liability partnership status.
We will take a legal charge on the assets of your company to protect the interests of our lenders. It’s a senior debt, meaning that the debt ranks first, before any others. In the case of Money&Co. loans, we require all other debts to be discharged before we facilitate the loan.