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Commercial Credit News
|Peer-to-peer lender RateSetter reveals profit|
|Wednesday, 23 September 2015|
Peer-to-peer lender RateSetter has revealed that it turned a profit for a second consecutive year, making it the only major player in the sector to be profitable. It efficiently matches creditworthy borrowers with investors, allowing each side to agree a fair rate.
The 2014-15 results show that RateSetter reported a profit of £618k with revenues doubling in the year up to March 2015, from £5m to £12.5m. The company lent £300m in 2014 – more than any other peer-to-peer lender that year – and this year it has surpassed that figure already, having lent more than £345m to individuals and businesses.
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