LendingCrowd One of First P2P lenders to Launch Innovative Finance ISA
+44 (0) 7841571871
LendingCrowd, one of the UK’s fastest-growing alternative finance lenders to the SME market, launches one of the first Innovative Finance ISAs (IFISAs) by a P2P lender this week with a target rate of return of 6 per cent a year.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/201702160050
LendingCrowd's P2P ISA with 6% target rate of return (Photo: Business Wire)
With a minimum investment of £1,000 and up to £15,240 in the current tax year, the investment is spread across a portfolio of LendingCrowd loans to established SMEs across the UK. Investors are also able to transfer in from existing ISAs.
On 1st November 2016, LendingCrowd became one of the first P2P lenders to achieve full Financial Conduct Authority (FCA) authorisation paving the way for the launch of an ISA product.
This followed the 2015 Summer Budget, when HM Treasury confirmed that P2P loans would form a new category of ISAs - the Innovative Finance ISA - and would be added to the existing classes of Cash and Stocks & Shares Individual Savings Accounts (ISAs).
Stuart Lunn, CEO and co-founder of LendingCrowd, said: “We’re excited about launching the IFISA this week and see a massive opportunity for direct investors and the intermediary market to access the underlying asset class through a tax-efficient wrapper.”
@_lendingcrowd one of first #P2P lenders to launch Innovative Finance ISA
Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.