British p2c lending Fundingknight, a service facilitating p2p loans to British companies, yesterday launched auction bidding. Basic requirements for companies to be eligible to submit a loan application are:

• The business must have at least two years trading history
• They must be limited companies registered at companies house
• And finally, they must be UK based businesses with a UK bank account

Fundingknight then uses the following criteria to decide if the application will be listed on the marketplace

• Is the business well managed?
• Is the company realistic about risk?
• Will the business generate enough cash to repay the lenders?

Fundingknight launched in September 2012. There is no data publicly available on the loan volume to date.