Affordable Credit through Crowdlending

Plend is a Social Lending Marketplace, providing a platform for low-cost loans for the 74% of us that are currently unable to access affordable credit
 

A fairer future. Together.

We're passionate about a UK where everyone who can afford a low-interest loan can access one.

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But credit scoring is broken in the UK - you're either 'prime' (the top 26%) or so called 'sub-prime' (the rest of us.) Prime borrowers have access to all the best products at the lowest rates at around 7%. The majority of us are forced into using short-term stop-gaps - Credit Cards, Overdrafts, Buy now, pay later - at rip-off rates of 35% and worse.

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Millions of us are locked out from the best products because of inaccurate information, minor blemishes on our credit file or because we're simply completely invisible to credit reference agencies. 

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Traditional lenders can't service us - because traditional credit scoring isn't built for us.

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At Plend, we use open-banking data to see what borrowers can really afford right now - instead of punishing them for their past mistakes. We analyse 1 - 2 years of transaction data to directly weight our affordable rates for each loan term, and have designed our 'Plend Score' to reflect the reality of the post-Covid economy.

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Borrowers then upload their images and tell their story to crowdfund their loan on the Plend marketplace. 

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Our streamlined social lending model lowers our operational costs, and we pass on the savings to our lenders for market-beating returns of 11.5% (avr.) - interest and capital, each month.

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No other platform in the UK is offering rates this good to lenders while allowing them to give someone a genuinely affordable loan. Borrowers get to tell their own story, in their own words - and no longer have to rely on Credit Cards, Overdrafts and buy now, pay later credit to put their finances in a better place.

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Social lending marketplaces with open-banking credit scoring have already seen massive success overseas - Plend wants to be the first to offer it in the UK.