20th Nov, 2014

Lendit 2014 – Global Alternative Finance Marches On

This week saw the Lendit Europe conference take place at London’s 155 Bishopsgate venue. It’s fair to say this one drew all the big names in the alternative finance space and provided a fantastic marketing opportunity for us.

The biggest difference between this event and one hosted earlier by AltFi News was the European participation. There seems to have been a step change in activity across Europe in the last six months. Although each jurisdiction faces its own regulatory and credit-scoring challenges and these markets are at various stages of maturity, there was representation from France, Germany, Italy and Finland on the panels. We also networked with people from the US, Japan, Australia, Norway and Belgium with alternative finance platforms, so the global market is gathering pace quickly.


20th Nov, 2014

Our relationship with ThinCats

rebuildingsociety has signed a deal to build technology platforms for ThinCats, so we want to give you some more details and answer any questions you might have.

WHAT: rebuildingsociety’s technology sister company, White Label Crowdfunding, has been contracted to build ThinCats’ new version of its peer-to-peer lending platform – ThinCats 2.0. It will also build platforms for ThinCats’ joint ventures in Australia and Poland, which will trade under the ThinCats brand.


07th Nov, 2014

The UK Alternative Finance Industry Report 2014

The alternative finance industry is quickly becoming an important part of the UK economy. The innovative, technology led approach has improved access to finance for SMEs and seems to be having a positive impact on social and charitable enterprises. Nesta and the University of Cambridge’s ‘UK Alternative Finance Industry Report 2014’ is probably the most comprehensive research on the industry to date. Highlights of the report include:

Funding set to more than double in 2014
The report estimates £1.7bn will be lent / invested through alternative finance platforms this year, up from £0.7bn in 2013 and taking the cumulative total (2012:14E) to c.£2.7bn.


07th Nov, 2014

What is the Future for Commercial Finance Brokers?

At the Finance Professional Show this week there was a lot of talk about regulation and the threat to the commercial finance broker market as it stands.

A seminar in the afternoon session attempted to identify the positive aspects of regulation for the broker industry.

Everyone understands that the level of detail required for regulation will be difficult for some brokers who are not used to it – that’s a given. Because of this, we should expect attrition in the market. However, the overriding message was that fear shouldn’t be the only emotion for brokers in the coming months.


06th Nov, 2014

Explaining Our Underwriting Process

In order to get a true understanding of our underwriting process, lenders need to know the right checks take place prior to listing. In this blog, we explain what happens in the time between receiving a loan application and a loan being listed on the Marketplace.

We receive a number of applications from potential borrowers every week. Currently only about 50% of all applications received will make it to the marketplace.

When borrowers apply we ask them for the previous two years of statutory accounts and a set of complete and recent management accounts. We’ll also ask them to disclose any additional borrowings the business has and for the directors to provide a statement of their assets and liabilities.

Scrutinising Accounts (more…)

03rd Nov, 2014

Voting on the Discussion Boards

We’re always looking to facilitate communication between our investors and our borrowers, so we’re pleased to announce a new feature on the discussion boards: voting.

If you look at any topic posted, you will see the thumbs up and thumbs down  buttons on each message. We want to help investors let borrowers know which questions they want to see answered and we want borrowers to know which questions the community is most keen to hear the answer to. On the flipside, we want you to help each other by voting down questions or replies that you do not feel are relevant or adequate.

On a serious note, many users have got in touch recently to let us know that they have been disappointed with the quality, tone and relevance of some of the recent questioning. We want to help the community have constructive discussions about investments but we don’t want to censor the debate.

You should continue to report any comments which may be discriminatory, fraudulent, defamatory, obscene or threatening.

The more you get involved, the better this will work, so please get voting! As always, please send any feedback to support@rebuildingsociety.com.

03rd Nov, 2014

When it Pays to be Open With Accounts Information

Peer-to-peer lending is a mentality shift for some people looking to raise business finance.

Some embrace the extra exposure to potential customers that a loan auction offers or reliable access to a fast and secure line of funding, while others are cautious about the general public viewing accounts information and asking tricky questions.

As a funding provider, we’re keen to bust a few myths around alternative funding…

For businesses, the nature of reporting to Companies House means accounts information is publically available. If your competitors wanted to view your abbreviated accounts they could download a document, or pay for a credit agency report. Our process means only registered investors can see your vital statistics, so there is no need to be nervous about where your accounts might end up. Openness also wins support and trust. One of our borrowers at a conference we held in early 2014 said:

“Culturally, as businesses, we’re encouraged to keep our information to ourselves, but what difference does it make? It has to be a positive thing to give people more information, so you gain their trust. From now on, I’m going to file full accounts – I don’t have to – but I want people to know how well we’ve done.”

That particular borrower raised £48,000 through rebuildingsociety to finance the purchase of an asset from the United States that traditional asset finance providers wouldn’t touch because it had to be exported.