George Banco Acquired by Non-Standard Finance

Ratesetter took a minority stake in George Banco in May but now the firm is being acquired; all George Banco loans will be refinanced and RateSetter lenders will be paid in full; RateSetter has GBP30 million ($39.11 million) of outstanding loans with the company; George Banco provides loans to borrowers with poor credit and brings in a third party in case the borrower fails to repay. Source