Zopa has helped savers to lend to borrowers looking for personal loans for over 8 years, providing better returns to savers and lower rate loans to borrowers.
When surveyed over 80% of Zopa savers wanted to lend money to help small businesses as well as individuals looking for a personal loan. Soon we will introduce business loans to Zopa, offering good value loans to sole traders.
We've chosen to start our business loans with sole traders for two reasons:
1. We saw that there were few opportunities for smart sole traders, with a good credit and trading history, to access good-value loans.
2. Sole traders are often looking for loans of a similar size and time period as our personal loan borrowers so offering these loans doesn't require big changes for our savers to the way they choose to lend
When our business loans are launched, sole traders can apply on www.zopa.com for a loan. Our expert loans team will carefully review your application to make sure you can afford your loan and answer any questions you might have.
Our savers will see business loans appear in the tracker rates on their lending offer. As part of their Safeguard lending, business loans are covered by the Zopa Safeguard.