The secret to our low rates?
-How it works-
Credit Morgan directly match people looking for a low rate loan with investors looking for a higher rate of return. Here's how.
We look behind just credit scores and debt-to-income ratios to consider factors like personal information, business information, financial statements, bank statements. So while other lenders charge higher rates to account for the possibility that borrowers won't pay back their loans, our unique underwriting process helps ensure our members have a high likelihood of making their payments.
Doing business online allows us to keep expenses down.
We then pass these savings onto our members.
Since we don't have brick-and-mortar branches, we save on operating costs.
Online applications allow us to get through information faster and waste less time.
Our customer service team is based out of London and Oslo, offering streamlined support seven days a week.
How does peer-to-peer lending work? Classic credit
SMEs in need of financing contact a classic financial institution to apply for a loan
The loan is largely financed by deposits and savings by private and professional investors
Credit and account interest rates are chosen to cover at least the cost base. This includes inter alia: personnel costs, costs for the operation of a branch network and balance sheet costs
Due to stricter regulations, the balance sheet costs have risen sharply in recent years and have had a lasting impact on price policy
Thus, SMEs are confronted with rising and not necessarily risk-appropriate financing costs - on the other hand, investors in account and savings deposits receive lower interest rates
How does peer-to-peer lending work? Peer-to-peer credit
Unlike traditional credit, the peer-to-peer (P2P) approach creates a direct relationship between debtor and creditor
This allows significant cost savings thanks to reduced personnel costs; leaner structure, no costs for the operation of a branch network
There are no balance sheet costs, thanks to direct relationship between debtor and creditor
This results in better market rates for both parties: SMEs pay lower interest rates that match their risk profile
Investors receive higher returns for the risk they take
Peer-to-Peer Lending (P2P)
Peer-to-peer (P2P) lending allows investors to earn a good return on their money by lending to credit-worthy borrowers.
How does peer-to-peer lending work?
We’re different from a bank. Funds for your loan come from dozens of people and companies who are backing your success. It’s called marketplace lending and it’s sweeping the globe. We keep our costs low and share the savings with borrowers and investors to offer a better deal to both. Borrowers get better rates. Investors get solid returns. It's that simple.
Cut out costs and pass on the savings to investors and borrowers
Our role as a P2P lending platform is to bring together people that want to invest money with people that want to borrow money. At Credit Norge we operate with a healthy level of caution and only match investors with borrowers who pass our stringent criteria.
Take a quick tour to see how it works
How do we make money?
We believe in transparency, so our fees are displayed clearly to our customers when they take out a loan or invest their money.
We charge 3 types of fee at Credit Morgan. The servicing fee helps cover the cost of operating our platform and servicing the loans, for example collecting and distributing payments. They enable us to provide the service our customers know and love.
We charge an origination fee to help cover the cost of setting up the loan. We also apply a loan servicing fee to each loan contract, which is deducted directly from each borrower repayment before the principal and interest is passed on to investors. Both fees are included in the loan's APR.
We charge a 1% fee if an investor wants to sell their loans to access their money quickly. It's free to withdraw money in other ways.
Compare us than traditional lenders
No need to go from bank to bank
No property security collateral required
Flexible payment terms over monthly instalments
Direct access to investors
Secure and confidential
Direct links with credit-worthy businesses
Strong and attractive stable returns
Portfolio flexibility and diversification
Investment ratings and risk assessment
Transparent and direct reporting
Credit loss protection fund - we invest with you
A better deal for everyone.
Better for Borrowers
If you have a good credit rating, we can help you save money by offering a better rate than the big banks. No need to go from bank to bank.
Borrowers can request a free, no obligation rate quote online from our homepage. Unlike making a loan application, getting a quote from us won’t impact your credit score.
Once the quote is accepted and a loan application is made, we carefully evaluate each application, listing applications that meet our credit criteria on our investor bidding platform, removing any personal information to protect borrowers' privacy.
Investors then bid online to fund the loan you have requested and we let you know in real time when your loan has been fully funded.
Better for Investors
Investors can easily invest based on their goals and risk appetite. The Credit Norge investment platform allocates investors’ funds to fractions of loans, spreading the risk of the portfolio across many business loans.
Each time borrowers make scheduled loan repayments, the money is transferred directly into the investor’s account. Investors can choose whether to reinvest or withdraw these funds once they have cleared.
At least €200k in the last year
Operating for at least 18 months
Up to two years of financial reports
Registered business in UK or Norway
We're not a bank. Instead, we connect borrowers with investors through our online marketplace.
Small and medium-sized businesses wanting to grow their businesses can easily access commercial loans.
1- Tell us about yourself and your business (10 minutes)
Answer a few questions and provide some basic accounting and bank data.
2- We review your application (24 hours)
Our team of credit experts will review your application and we’ll be in touch with a decision.
3- Accept your offer (One week)
Individual and institutional investors finance to your company. Just a week after your application, you can access to your funds.
Credit Morgan screens borrowers, facilitates the transaction, and services the loans. We review applications and approve creditworthy businesses. We then pay out their loans and process repayments for investors.
In exchange for solid returns, investors purchase Notes, which correspond to fractions of loans.
1- Open your online account
Set up your account in minutes and transfer money from your bank.
2- Start lending automatically
Our automatic lending tool allows you to lend small amounts to hundreds of different businesses.
3- Receive monthly repayments
You’ll typically receive repayments with profit share each month from the businesses you’ve lent to.