LendingCrowd to fund SME growth through Scottish Investment Bank and NIBC partnership

Scottish P2P lending platform LendingCrowd, has just entered a partnership with Scottish Investment Bank (SIB) – the investment arm of Scottish Enterprise – and Dutch entrepreneurial bank NIBC to create a unique opportunity for SMEs to fund their growth.

Both banks will be lending a combined £18.75 million across LendingCrowd’s platform.

LendingCrowd is seeing an increase in the demand for small business finance from all around the UK. LendingCrowd will be assessing applications and distributing the finance via its innovative proprietary online platform. The platform can provide businesses with a decision on the day and make money available in 10days.

LendingCrowd provides funding to almost all sectors, and a few of the companies to have benefitted from the platform’s loans include Summerhall Distillery, producer of Pickering’s Gin, Tag Games and Umega Lettings.

Stuart Lunn, founder and CEO of LendingCrowd, commented: “We’ve had a record number of requests for funding from British businesses so far this year, showing that the appetite for alternative sources of finance to fund their ambitions only seems to be getting stronger.

“We are delighted that the Scottish Investment Bank has followed up its first foray into the alternative investment market with this further commitment, and that we have been joined by NIBC, which sees the potential of LendingCrowd and our proven ability to distribute its considerable funding to UK businesses. Going through the due diligence on a deal like this has really shown the strength of our team in building an institutional class lending business.

“There are many small businesses crying out for finance and the funding from SIB and NIBC, coupled with our strong retail investor base, will allow LendingCrowd to help even more companies fulfil their ambitions.”