As we write today's News story, the latest, B+ rated five-year loan is drawing to a close. The price of the credit offered is falling, as registered lenders compete for a piece of the action.
Several new loans are due on site shortly - so we thought it might be helpful for casual visitors to learn the simple process (set out below) of how to lend. Click here for more, and to see a short explanatory video.
Click on the Login or Register button at the top right-hand corner of the screen.
Register your details, including bank account details, to transfer money for lending and for receiving interest and capital repayments.
Once you've been accepted (the law requires us to check you are who you say you are) go to the loan auctions page and look at the businesses seeking funds.
Decide which borrowers you like and place a bid. You can bid to lend as little as £10 per loan until the auction closes. Prudent lenders will lend small amounts to several companies to spread risk.
After the auction closes and the borrower gets the funds, monthly payments will begin. We distribute these payments to you, the lenders.
Money&Co. brings individuals looking to get good return on capital with carefully vetted small businesses seeking funds to grow. In addition to new loan offerings, our secondary loan market, offering existing loans for sale by lenders, is available to registered Money&Co. users.
All loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment.We write regularly about these three key factors. Here's an earlier article on security, access and yield.
If you haven't made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment. Capital is at risk, once loaned.