What are Sponsors and why do we work with them?
ThinCats is unique amongst P2P lending platforms because of the detailed way it reviews borrowing proposals. We do this through close partnership with a network of financial professionals who work closely with the borrower. We call these professionals “Sponsors”.
To ensure a continuous flow of high quality lending opportunities we use a network of experienced “Sponsors” covering the whole of the UK ensuring that our quality standards are maintained. A ‘Sponsor’ can be a single individual, but more typically consist of several advisors. They are required to be experienced banking or financial professionals, fully capable of helping loan applicants make their case and be confident in supporting each application.
Sponsors are a primary point of contact for potential borrowers. They are financial services professionals, in teams that include at least one person with banking experience. Loans only feature on the ThinCats platform if they are supported by a dedicated Sponsor.
The Sponsor’s are responsible for the quality of the deals they bring to the platform, along with the regulatory and legal due diligence.
What do Sponsors do?
- Assess business proposals and applications for loans
- Meet with borrowers and get to know their business, the team and the future potential
- Help the borrower to prepare the loan information by completing a detailed information pack for each loan. This is a fully comprehensive, fact driven report. It is made available to lenders upon the start of an auction and covers all aspects of the business, the proposal, affordability and security
- Answer questions from lenders during the auction and coordinate post drawdown completion
- Liaise with solicitors to complete the security requirements
- Conduct the necessary regulatory checks on all loan applications brought to the platform, including AML & KYC
Sponsors make no recommendations and offer no investment advice via ThinCats.
Who do we work with?
ThinCats only works with experienced finance professionals. Sponsors must go through a process of accreditation which consists of:
- Pass ThinCats due diligenceWe want to make sure that each Sponsor is suitable for our platform
- Bring 3 deals to the platformWe want to make sure that the Sponsor has the deal flow
- Sign Sponsor AgreementA legal agreement is required to protect all parties involved
Interested in working with us?
Follow the link to find out more information on becoming a Sponsor and simply fill out our brief form and our Partnership Manager will contact you within one working day.