Review undertaken by Simple Crowdfunding In respect of P2P loans

On receipt of a full application a detailed assessment of the application is required.  Considerations Include (but are not limited to):   

  • Character of directors - The background, experience & credibility 
  • Credit checks – company and individuals 
  • Communication and response
  • Social media checks 

  • Overall project review: Location, purpose of the loan, exit strategy, experience, finance stack (including fundraiser and other funding for the project), cashflow, project plan, current or development valuation as appropriate.
  • Understanding the plan for repayment and whether this is realistic.  What is the plan B?  
  • Establishing the right risk / return and suitable security / collateral to support the loan.

  • Name and current registered address
  • List of all directors obtaining KYC 
  • Details of beneficial owners
  • Certificate of incorporation and articles of association
  • Accounts, including management accounts if last accounting date more than 12 months ago

Our assessment is proportionate to the risk recognising that, while we are likely to have security for the debt, our primary concern is the repayment in full to the investors, including interest, over the loan term. 

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