What are BidPal and BuyPal?

BidPal is our automated lending tool that allows you to more easily lend funds to opportunities on the Primary Marketplace. The BuyPal tool will automatically buy microloans (matching your criteria) as they become available on the Secondary Marketplace. These tools help to ensure that your funds are being continually lent out to opportunities that match your pre-set preferences, meaning your money will always be earning subject to new loans and demand on the marketplaces.

In addition to choosing the risk band (based on the credit risk of the loan), you can select maximum investment amounts for both a loan as a whole and individual loan parts.

Loans on the Primary Marketplace are split into microloans (loan parts) and the individual microloans may be traded on the Secondary Marketplace. You can set limits on the total amount in any one loan on the Primary Marketplace and a lower amount to go into each loan part that makes up your total investment in the loan.

When this setting is applied to the Secondary Marketplace, BuyPal will only buy a microloan for you that is smaller than your maximum loan parts setting on the Primary Marketplace, so although the loans you hold change, the diversification of your portfolio of loans is maintained.

Each day, BidPal and BuyPal automatically check your available balance and scan the Primary Marketplace and Secondary Marketplace for lending opportunities that match your preferences and automatically bid or buy for you.