Lending: How The Money Platform Operates

Risk Categorisation and Borrower Pricing

The Money Platform operates in the non-prime lending space. By nature of the product and the typical industry default rates, all loans can be defined as "High Risk" and priced accordingly, irrespective of the specific segment of loan term, amount or customer profile (as sub-segments of the "high risk" overall classification).

It should also be noted that The Money Platform performs maximum forbearance for any customer in difficulty, where interest is frozen at 0% and payment plans arranged within fair, reasonable and affordable timescales as soon as the customer enters into dialogue with the Collections department.

Lender Pricing and Lending Return

You can read more about Lending with The Money Platform on our Lender Risk Statement.

Please see detail on historic and expected returns on our Outcomes Statement.

Please read important information for investors, here.

Role of the platform

We operate the The Money Platform a service that matches lenders with borrowers, and to facilitate credit agreements between them. Additionally we administer and manage every aspect of these loans on behalf of lenders.

When registering as a lender with The Money Platform and agreeing to these Service Terms, Lenders appoint The Money Platform as agent with regard to the origination, negotiation, administration, collection and management of loans. For the avoidance of doubt, The Money Platform's role includes but is not limited to:

• Undertaking credit, affordability, identity, fraud and money laundering checks (using information provided by Credit Reference Agencies and The Money Platform's bespoke scoring systems) on prospective borrowers to determine their creditworthiness and to agree the amount, term and rate at which they can borrow. All checks are automated and we do not manually check applications;
• Ensuring prospective borrowers meet our risk threshold by ensuring the loan is affordable after known commitments, assessing that borrowers have a credit history that gives confidence of likely repayment, ensuring borrowers provide a proof of identity, completing checks on the borrower's bank account and stated address, confirming the customer's bank card is valid, undertaking fraud and money laundering checks;
• Fixing the price of agreements to reflect the risk threshold;
• Matching lender funds with suitable borrower loan applications in the loan categories selected; executing any agreements relating to your loans;
• Communicating with and collecting repayments from borrowers;
• Keeping and maintaining loan records;
• Responding to complaints or disputes;
• Conducting negotiations during the loan term, for example, relating to early repayment;
• Taking action in connection with any breach of loan terms (such as missed payments), including: conducting any enforcement action against a borrower, providing a default notice, appointing an external debt collection agency; and anything else The Money Platform reasonably considers necessary to manage your loans, including terminating those loans. Loans will be marked as Defaulted 90 days after the loan maturity date, if the loan has not been amended to suit the borrowers needs;
• Providing Lenders with an annual Tax Statement. The statement will contain a summary of the taxable income you have earned during the most recent tax year. The Money Platform does not withhold any tax, so any taxable income you earn should be included in your annual tax return. The information in your tax statement has been prepared by The Money Platform and is intended as general guidance and information. As always, you should seek independent financial/tax advice in relation to any questions you have around your specific circumstances or taxation in general.

Wind-Down Plan

Please see information on our Wind-Down Plan in section 18 of our terms of service.