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P2P lender LendingCrowd extends cashback offering

Investors can earn £150 if they invest £2,500 or more in September.

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Investors can earn £150 if they invest £2,500 or more in September.

P2P investors can get a little bit extra for investing in LendingCrowd.

The Edinburgh-based platform is extending its cashback offering, giving clients £150 for investing £2,500 or more on the platform by 30 September.

The offer is available to both new and existing customers. Clients can also take advantage of tax-free earnings through the platform’s Innovative Finance Individual Savings Account.

The money invested, including the cashback, must remain in the account for at least 12 months after the client receives the cashback credit to their account.

LendingCrowd provides a simple way for investors to access SME loans and diversify away from traditional asset classes, such as equities, while benefiting UK SMEs,” said Stuart Lunn, chief executive of LendingCrowd.

August was a record month for the company, attracting over £2.25m of investment. Since launching in 2014, the firm has lent £17m to small and medium-sized enterprises in the UK, across about 200 loans. The platform has a target rate of 6 per cent but says investors have earned up to 8.89 per cent so far in 2017. 

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