ZOPA
Matches people looking for a private loan with people wanting to invest. They've approved £2.24 billion in loans.
Logistics
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Offer personal loan ranging from £1,000-£25,000 for a term of 1-5 years
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Things to check before you apply
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You’ll have to be able to confirm your identity
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Need to be at least 20 years old
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Need to be employed, self employed, or retired with a pension
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Be a UK resident with at least 3 years of address history
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Need to have an income of at least £12,000 per year (before tax)
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Have a credit history they can see and a solid track record of repaying debt
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Need to be able to afford the loan you are wishing to take out
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They can’t offer joint loans.
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There will be a low, transparent fee that will be charged to you once your application has been approved.
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Checking your rates won’t affect your credit score.
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It should take about 5 working days for you to receive your loan