Making lending quick & easy
If you are short of time, or don’t want to research individual businesses to lend to, you can use our Autobid tool to quickly lend to lots of businesses that fit your chosen criteria.
Autobid tool features
Lend at the average rate
Autobid will lend automatically for you. Rates are typically set based on the risk band and term of the loan. When buying loan parts from other investors, you can choose the gross interest rate you're happy to lend at. Remember to include an allowance for fees and estimated bad debts.
Risk bands Term of loan (months) A+ A B C D E 6-12 6.0% 9.0% 10.0% 11.3% 13.5% 17.4% 24-36 8.0% 9.2% 10.2% 11.6% 13.8% 17.7% 48-60 8.3% 9.5% 10.6% 11.9% 14.1% 18.1%
Diversify your lending
Set Autobid to lend up to 1% of your money to each business, depending on the level of diversification you want to achieve. A low percentage can ensure your money is spread across a wider range of businesses, which helps to manage risk.
Choose which risk bands to lend to
In the ‘Advanced Settings’ you can choose which risk bands you want to lend to, from A+ to E.
Automatically lend your repayments
As you receive repayments they are automatically lent back out to new borrowers, so you can spread your money across even more businesses.