Fundingknight Launches Auctions

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.

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