This is a fantastic illustration of the increasing popularity of the peer to peer lending platform. ThinCats is now gaining new lenders at the rate of one hundred a month and lending over £1.6m a month. With loans nationwide ThinCats is rapidly gaining momentum and potential lenders have found they need to be poised and ready to invest.
The following morning investors were lamenting the fact that they were too late to join in the auction that started at 8pm, with one unlucky potential bidder saying, “Brilliant….logged in at 8.25… too late. Shouldn’t have got dinner on first”! The loan, for Building Design Services, an expanding mechanical and electrical consultancy business with headquarters in Corby, was sponsored by Sterling Capital, one of ThinCats most successful sponsors.
David Marshall of Sterling said, “the speed at which bids were made was incredible, this really demonstrates the strong appetite amongst investors to support business in the UK.”
ThinCats' Managing Director, Kevin Caley, is over the moon at ThinCats’ progress, “It demonstrates the huge demand for low risk investments that produce decent returns. Most savers are getting between 0.25% and 2.75% on their investments at present and with inflation at about 2% they face a serious problem.
ThinCats is producing returns of over 11% with no fees and no losses so it’s easy to see why the service is growing so fast.”
Not only is ThinCats solving a problem for everyone trying to live on an investment income it is also stepping into the gap faced by small businesses as the banks abandon their traditional lending market.
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