GO2 Business Loans
GO2 is a crowdfunding website for businesses in Southern England.
Peer to Peer Lending Network
GO2 Business Loans is a new crowdfunding website, designed to match Southern businesses wanting to borrow money with trustworthy lenders, in a safe and secure online marketplace.
Borrowers using the website are able to create a profile for their business and request loans of up to £200,000. Their company profile is screened and credit checked before being given an overall credit rating. Lenders are able to review loan requests, ask borrowers questions about their business plans and bid up to £5000, setting their desired interest rate in an online auction.
When the auction ends, those lenders offering the best rate for the borrower become active and the website generates all the necessary legal documentation and manages the repayment process with regular monthly deposits being distributed amongst the lenders.
This sophisticated web application is entirely bespoke and in addition to functional testing, we also conducted extensive usability testing at Southampton Solent University’s eye tracking suite to fine tune the design and user experience.
Due to the financial nature of the site, we had to adhere to strict guidelines and regulations throughout the development processs and are proud to be one of only seven UK crowdsourcing companies to have successfully gained FCA approval.