Lending Crowd Review for Potential Borrowers
Lending Crowd Review for Potential Borrowers
This Lending Crowd review will provide a full breakdown of the business finance solutions offered by Lending Crowd. We look into the credibility of Lending Crowd by exploring who operates and runs Lending Crowd, when Lending Crowd was launched and the types of businesses most suited to receiving a Lending Crowd business loan. We’ll also provide details of what Lending Crowd requires from a potential borrower. Read the following Lending Crowd review to find out more.
Lending Crowd Review – Basic Figures for 2022
Website
Logo
Loan Amount
$5,000 – $200,000
Loan Term
3 years to 5 years
Unsecured Loans?
offers both secured and unsecured loans
Lender Requirements
- A good credit history
- Over 18 months in business.
- No less than $80,000 in annual revenue.
- Full ownership of your business.
Response Time
24h
Easy to Apply
Everything’s done online – they make it simple for you.
Minimal Interest Rates
Provided after successful applications and fixed for the life of the loan.
Credibility & Company Story
Lending Crowd is a peer to peer lending platform. Peer to peer lending might sound complicated but it’s a simple idea. We’re a website that let’s people who want to borrow money connect with people who want to invest money.
We do the tricky parts of making it work like setting interest rates, creating loan agreements, collecting signatures, managing loan payments, and keeping everybody anonymous, but outside of that borrowers and investors deal with each other. We’re a technology company, so we do our parts very efficiently, and everyone gets a better deal. It’s simple, clever, and it works!
What Products Do Lending Crowd Offer?
- Personal loans – Get the money you need without the hassle. Our loans are sensible, simple and 100% online.
- Vehicle loans – Get the vehicle you’re after without the hassle. Our loans are fast, simple and 100% online.
- Business loans – Borrow up to $200,000 for your business. Our process is sensible, simple and 100% online.
Lending Crowd Pricing & Rates
Lending Crowd assigns each loan listed on the platform with a loan grade and interest rate based on an assessment of borrower creditworthiness and security offered. This interest rate is the rate borrowers will pay and the gross interest rate that investors are due.
Unsecured loans
Lending Crowd offers unsecured personal and business loans from $2,000 to $50,000 over 2, 3 and 5 year terms.
Personal
| A1-U | A2-U | A3-U | B1-U | B2-U | B3-U | C1-U | C2-U | C3-U | |
|---|---|---|---|---|---|---|---|---|---|
| 2 Years | 8.45% | 9.50% | 11.70% | 12.20% | 12.90% | 13.30% | 14.90% | 15.50% | 16.10% |
| 3 Years | 9.45% | 10.20% | 12.30% | 12.90% | 13.60% | 14.90% | 16.30% | 17.90% | 18.70% |
| 5 Years | 9.97% | 11.50% | 13.70% | 14.10% | 14.90% | 16.10% | 17.90% | 18.90% | 21.50% |
Business
| A1-U | A2-U | A3-U | B1-U | B2-U | B3-U | C1-U | C2-U | C3-U | |
|---|---|---|---|---|---|---|---|---|---|
| 2 Years | 8.90% | 9.90% | 10.70% | 11.30% | 12.30% | 14.10% | 15.40% | 16.50% | 17.50% |
| 3 Years | 9.10% | 10.50% | 11.90% | 12.90% | 13.90% | 15.90% | 17.30% | 18.10% | 18.90% |
| 5 Years | 9.90% | 11.50% | 12.90% | 14.70% | 14.90% | 16.80% | 18.90% | 19.90% | 21.60% |
Secured loans
Lending Crowd offers secured personal and business loans from $5,050 to $200,000 over 3 and 5 year terms. All loans must be secured with registered motor vehicles and/or property.
Personal
| A1-S | A2-S | A3-S | B1-S | B2-S | B3-S | C1-S | C2-S | C3-S | |
|---|---|---|---|---|---|---|---|---|---|
| 3 Years | 7.95% | 8.90% | 9.90% | 10.70% | 11.20% | 12.30% | 14.10% | 15.30% | 16.90% |
| 5 Years | 8.20% | 9.90% | 10.60% | 11.90% | 12.90% | 14.10% | 15.30% | 16.20% | 19.20% |
Business
| A1-S | A2-S | A3-S | B1-S | B2-S | B3-S | C1-S | C2-S | C3-S | |
|---|---|---|---|---|---|---|---|---|---|
| 3 Years | 8.95% | 9.40% | 11.90% | 12.30% | 13.30% | 14.10% | 15.80% | 16.40% | 17.90% |
| 5 Years | 9.76% | 10.60% | 12.80% | 13.90% | 14.80% | 15.60% | 16.90% | 17.90% | 19.90% |
Lending Crowd Review Summary
Name: Lending Crowd
Summary
Lending Crowd is a financial technology company built on decades of experience in the finance and technology spaces. We combine some clever ideas, with the latest technology, to create and operate a financial marketplace where people with money to invest connect directly and anonymously with people looking to borrow. Because we’re a technology company, and there are no middlemen, our marketplace operates very efficiently and we aim to pass this on to both borrowers and investors with great deals. Our mission is to lower the cost of borrowing and take the hassle out of the process for borrowers, and open up a whole new class of investment with great returns to investors. What we do is elegant, clever and it works!
Overall
-
Credibility - 94%
94%
-
Client Reviews - 94%
94%
-
Website - 95%
95%
-
Compatibility - 94%
94%
Pros
- Complete a loan application online in minutes.
- Choose a rate and term that suits you.
- Money is deposited straight to your bank account.
Cons