The Money Platform

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Written by:

Cara Bradley

5 minutes mins read

Updated: 2nd July 2024


Little Loans is a credit broker working with a panel of responsible lenders to try and match people with suitable loans. One of the lenders we’re pleased to work with is The Money Platform, and we’d like to take this opportunity to tell you a little bit more about them.

What is The Money Platform?

Established in 2016, The Money Platform is a peer-to-peer lending company; they have issued over 80,000 loans to people in the UK.
In 2023, they won the Financial Inclusion category at the Peer2Peer Finance Awards.

The Money Platform state the following on their website:

“Millions of people in the UK are excluded from mainstream finance and don't have access to fair credit - it's our mission to sort that out. That’s why we’re focused on combining data with the power of the crowd, to make better lending decisions to help all of our customers achieve their financial goals.”

What is peer-to-peer lending?

Peer-to-peer lending, also known as P2P, is a platform that connects potential borrowers to approved lenders, who can be individual people or businesses.

Will the individual lender know who I am?

No – the identity of the borrower is kept anonymous to the lender(s).

How much money can I borrow with The Money Platform?

Subject to affordability, you could apply to borrow between £250 and £1,000.

What sort of repayment terms does The Money Platform offer?

The Money Platform offer repayment terms from 1 to 3 months.

What Annual Percentage Rate (APR) does The Money Platform advertise?

The Money Platform advertise an APR of 497%.
They have provided this Representative Example on their site:

Borrowing £500 over 42 days with an interest rate of 23.1% equates to a total repayable amount of £615.50, and an APR of 497%.

Is The Money Platform regulated?

The Money Platform is a trading name of Gracombex Ltd, who are authorised and regulated by the Financial Conduct Authority (FCA). You can find their company page on the FCA register here.

Where can I find reviews of The Money Platform?

You can read through customer reviews of The Money Platform on Trustpilot.
As of May 2024, The Money Platform are rated Excellent, with 90% of their reviews scoring 5 stars.

Who can apply to borrow from The Money Platform?

To register as a borrower with The Money Platform, you must:

  • Be an individual, at least 20 years old, living in the UK;
  • Have a Nominated Payment Account; and
  • Satisfy all identity verification, anti-fraud, and credit checks.

How does The Money Platform process work?

  1. Complete the online registration form.
  2. The Money Platform will carry out a soft search on your credit history to determine your affordability.
  3. If your application is successful, your result will be presented to you. Loan offers are usually valid for up to 30 days.
  4. Should you wish to go ahead with the loan, your funds will be released following successful completion of the final identity checks. You will need to provide either your passport or driving licence at this stage.
  5. Your loan is required to be repaid in instalments. The Money Platform will collect your repayments on your pre-agreed payment dates.

If approved, how quickly will I receive my money?

The Money Platform transfer funds at 9am and 3pm on working days. You’ll be sent an email to confirm the transaction once your money has been sent.

Can I repay my The Money Platform loan early?

According to The Money Platform website, you can repay your loan early; however, you should bear in mind that you’ll need to cover the interest payable to the date of your early settlement, plus the Loan Application Fee. Borrowers can make an early repayment via their customer account and should email The Money Platform at to let them know.

What happens if I miss a repayment?

If repayments are more than 48 hours late, you will be charged a fee of £15.
The Money Platform state the following:

“If you miss a Repayment, or you believe you cannot afford to make a Repayment, you should contact us at Within one business day, we will:

  • explain the procedures we will apply and your options for meeting your repayment obligations under the Loan Contract; and
  • tell you if your account is being passed to a Collections Agency.”

If you feel as though you might miss an upcoming repayment, you should contact your lender as soon as you can to explain your circumstances.

Where can I find money advice?

You can access free, confidential money and debt management advice on sites such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.

I used Little Loans to search for a loan and was matched with The Money Platform. Who should I contact if I need help with something?

If your query relates to either the eligibility check or initial loan search that you carried out on the Little Loans website, we’d be more than happy to help you.
As Little Loans is a credit broker, we’re not able to assist with any questions regarding the loan you’ve been matched with. Your lender should be able to provide you with any further information that you require.

The Money Platform have an FAQ section on their website, that includes information on when to expect your funds, making payments, and what to do if you want to cancel your loan.

How can I contact The Money Platform?

The Money Platform can be contacted in a number of ways.

*Phone lines and live chat are available from 10am – 4pm, Monday to Friday. Emails will be responded to outside of these hours.

Do The Money Platform have a website?

Yes, they do – you can access it by clicking here.

This article is from May 2024; all information was correct at the time of writing.

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Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender