Wednesday, 26 September 2018

Who offers Peer to Peer Lending in Australia


While I’ve found a number of peer to peer lending providers, over half of them are restricted to wholesale or sophisticated investors in Australia. If you are wondering if you fall into this category, it’s unlikely. Typically to qualify, you need to be an individual, company or trust which has at least $2.5 million in assets or a gross income of at least $250,000 per year for the last two financial years. I am looking for peer to peer lenders that are open to retail investors as this is the category I, as do majority, fall into.

From my research the list below is who I’ve found offers P2P Lending in Australia at time of writing this blog. I’ve captured the basics from the respective websites of who they loan money to, who can invest and the minimum investment amounts. The first six on the list are for sophisticated investors only and thus only available to those who meet the criteria above. The last four are available to retail investors which is anyone over 18 years old in Australia with money to invest.


P2P Provider
Loans money to
Investors
Min Investment Amount
Business
Sophisticated
Not provided
BigStone
Business
Sophisticated
$1,000
Personal
Sophisticated
$2,000,000
MarketLend
Business
Sophisticated
Not Provided
Personal & Business
Sophisticated
$100,000
ThinCats
Business
Sophisticated
$1,000
MoneySpot
Personal
Retail & Sophisticated
$1,000
RateSetter
Personal & Business
Retail & Sophisticated
$10
TruePillars
Business
Retail & Sophisticated
$100
Wisr
Personal
Retail & Sophisticated
$10,000

(1) Harmoney indicate that when their retail investment licence is sorted, min investment will be $500. I’ve registered my interest and will keep you posted.

 (2) SocietyOne have indicated they are looking into opening up to Retail investors. I’ve registered my interest and will keep you posted. 

In my next blog I will be taking a closer look at the MoneySpot, RateSetter, TruePillars and Wisr to understand what they offer and how I selected my first P2P provider to invest in.

No comments:

Post a Comment

First User Experiences of Our Money Market

Having selected Our Money Market for our fourth peer to peer lending investment platform, I will go through my first user experiences fr...