How Do I lend Money ?
Many happy returns
Hey, who'd want the banks in charge of money? At Big Carrots, we put YOU in charge. You're in control of the returns you earn and the businesses you invest in.
Lending through Big Carrots will give you a rather nice average gross return of 5-8%. In some higher-risk-higher return businesses, you might enjoy a healthy 14%. And you can lend as little as £50 if you like.
Get behind British business
Businesses don't run themselves. They need plant and machinery. They need paperclips. They need to consolidate existing finance. And they need a bit of cashflow and probably a nice flexible overdraft
Getting any of that - especially the paper clips - from the banks right now isn't child's play. But now you can do your bit. As a Big Carrots lender, not only will you be getting right behind British business, but you'll also be getting great returns of between five and 8% on your money. In some businesses, perhaps as much as 14%.
Now that's a truly organic experience.
Low, low bad-debt rates
Protecting your money
At Big Carrots, we tell you all the upside - great rates that are better than the cash-deposit accounts plus the ability to lend almost as little as you fancy - so it's only fair we should restore a bit of balance. As a Big Carrots lender, there's a teensy bit more risk than with deposit accounts.
How teensy? Well, we reckon that bad-debt rates around these parts are around 1%. That's low. You see, every borrower who comes to us not only pays a £35 fee to cover application costs, but they're also credit-scored by real people.
These credit control and identity checks are pretty stringent and come with a breakdown of borrowers' current financial positions.
It's all about giving you an informed choice. We'll give you a prediction about the bad debt you can expect in each business. And we also promise to keep refining our procedures. So that 1% will become 0.5%, and 0.5% might drop to 0.25%. It seems only fair.
How Social lending works on the Bigcarrots.com marketplace:
- Your money is split across many different borrowers to spread your risk.
- Your repayments are protected by use of a professional regulated agency to chase payments.
- You are protected by anyone fraudulently accessing your account.
- If Bigcarrots.com Ltd go out of business (although we do not intend to) the funds are transacted using an independent ESCROW service that is FSA and HMRC authorised.