Growth street - Reputable p2p lender??

nb0825

he all,

Looking at Growth Street as a P2P lender. Yes I know the risks, but cannot find any articles or reviews of the site, which rings alarm bells. Perhaps I'm wrong, anybody had experience with them. They claim up to 6.5% annual return.

Flobberchops

Take a look at http://p2pindependentforum.com/

Growth Street isn't a major platform, appearing in the "more P2X" section. There's also not very much feedback, good or bad, which isn't very reassuring.

If it were me, I'd steer clear. The combination of a new, untested platform and really quite miserly returns just don't add up. There are platforms out there with a longer track record and/or much better returns.

Former_MSE_Andrea

Hi nb0825

The company has asked us to reply on its behalf on here. MSE doesn't endorse anything a company says on the Forum.

Hi nb0825,

Thank you for your enquiry regarding Growth Street.

While we have been operational since 2014 working with incorporated UK businesses, we only opened our marketplace to individual investors last month, which is why you won't find much information on us in the public domain at present.

You will find more information on the investor section of our website. For example, as of the 1st December 2016 we have matched over £34m on the platform.

Please note that Growth Street is an investment product and not a savings account. Your capital is at risk if you lend to businesses and P2P lending is not covered by the Financial Services Compensation Scheme.

Growth Street Exchange Limited is an Appointed Representative of Resolution Compliance Limited, which is authorised and regulated by the Financial Conduct Authority (no. 574048).

If you have any further questions, please don't hesitate to contact one of the Growth Street team - we'd be happy to help.

Best regards,

Lisa
Growth Street

dunstonh

I've been using Growth Street for a while and have posted an in-depth.

If you are posting on the basis of representing a company or website, then you need board permission.

FinancialThing

I have personally been using Growth Street for a few months. My experiences have been positive and I've always been paid on time. Yes there are risks involved but they're calculated. 6.2% returns with 30 day access to your money is attractive in the p2p world. I would expect the rates to fall in the coming months.

nushnush

i use them, i am fairly new to the site, does look like the rates are falling but i am happy for now

whats

I joined 3 months ago. There was a referral scheme where you could get £100 on £1K if left for a year.
So there has been an inflow of cash.
Each month your cash if matched with loans (maybe incorrect terminology), for the last 3 I've been matched the same day.
But people on P2P forum have said they have seen delays and they are moving money out.
if you don't get matched for 15 days the 6% APR drops to 3%.

I've had a good experience so far, but more worried about the future.

migger02

This is something to research and probably try.

Redalligator

I use funding circle. I have only invested a small sum to test the waters. I have been using them for 3 months and i am pretty happy with them. I personally have an interest rate of 8.7% at the moment. This figure will differ for everyone but i tend to go for the more riskier businesses to lend to. But yeah, i am pretty satisfied with the website and i would recommend them. There are a couple of other big P2P lenders out there but as of yet i have only tried Funding circle.

Luke