Home Peer to Peer Lending Lendahand recertified as B Corp after “difficult” evaluation

Lendahand recertified as B Corp after “difficult” evaluation

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Lendahand recertified as B Corp after “difficult” evaluation

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Moral peer-to-peer lending platform Lendahand has been recertified as a B Corp firm, after what it described as a “difficult” course of.

The Netherlands-based agency, which additionally has an Revolutionary Finance ISA within the UK through its three way partnership with moral funding platform Ethex, first obtained B Corp standing in 2016.

The B Corp certification is commonly assessed as a way to test that corporations are sustaining their requirements. Lendahand was recertified in 2018 and once more this yr, with the present certification legitimate till 2025.

B Corp assesses corporations in 5 totally different areas: governance, the way it treats its staff, its influence on the group, its environmental footprint and the way it impacts its prospects.

Learn extra: The 15 P2P and crowdfunding platforms with B Corp standing

The evaluation consists of 200 questions, that are all scored from one to 100. To turn into licensed as a B Corp, an organization should rating at the very least 80 factors with a mean of 100.

“The recertification course of proved to be fairly difficult for Lendahand,” the agency stated.

“Regardless of having been beforehand licensed, we skilled first-hand how rigorous B Corp is in relation to measuring the influence of the group.

Learn extra: Moral P2P buyers urged to contemplate B Corp standing

“The method was initially scheduled for 2021 however ended up taking nearly a yr. Ultimately, we achieved a complete rating of 86 factors, leaving room for enchancment sooner or later.”

Right this moment, over 7,000 corporations in 91 international locations are licensed B Corps, together with peer-to-peer lender Kuflink and crowd bonds platform Abundance Investments.



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