by canythould43 . Updated: 3 years

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RateSetter lenders have now delivered more than £2 billion in loans to people and businesses across the UK and in doing so have earned over £76 million in interest.
Ratesetter is safe because of its “Provision Fund“. This basically pools risk between all lenders – so if you have a borrower who stops making repayments, the fund will immediately kick in and make up the difference.<br />The Provision Fund it's how they manage to make unsecured consumer loans without an investor ever making a loss. The provision fund is currently only funded at 116% of expected losses.