British p2c lending Fundingknight, a service facilitating p2p loans to British companies, yesterday launched auction bidding. Basic requirements for companies to be eligible to submit a loan application are:
- The business must have at least two years trading history
- They must be limited companies registered at companies house
- And finally, they must be UK based businesses with a UK bank account
Fundingknight then uses the following criteria to decide if the application will be listed on the marketplace
- Is the business well managed?
- Is the company realistic about risk?
- Will the business generate enough cash to repay the lenders?
Fundingknight launched in September 2012. There is no data publicly available on the loan volume to date.