PledgeMe approved for lending

Pledge Me has had its application approved for a licence to move from crowdfunding into peer-to-peer lending.

Thursday, April 28th 2016, 3:14PM

It has previously said it saw an opportunity for peer-to-peer lending to replace bank lending for businesses, in some cases.

The licence will be granted once the platform's directors have been checked and a website is live.

Pledge Me said it would aim to deliver the platform by the end of May, when it would start offer lending services aimed at companies and organisations.

"Campaigns will need to demonstrate an ability to pay back the loan and interest over time, with the interest rate set by the campaigner."

It will join a peer-to-peer marketplace that includes Harmoney, Squirrel Money, LendMe and Lending Crowd.

Tags: Peer to Peer Lending

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