Marketplace lender RateSetter has moved into the business lending market, offering secured and unsecured loans of up to $150,000 for terms of six months to five years.RateSetter entered the Australian market in late 2014, four years after it was launched in the United Kingdom, offering personal loans.The company was the first true peer-to-peer lender in the local market, giving private investors direct access to a portfolio of loans.Rate Setter Australia chief executive Daniel Foggo said the business loans would go into the order system on the lending platform alongside personal loans, so that investors would get a mix of both types of loans in their portfolios based on their risk and return preferences.Foggo said RateSetter had facilitated more than A$40 million of loans. He said half of RateSetter's lending in the UK was to business.The company has appointed a new head of credit risk, Simon Cordell, to work on the push into the business market. Cordell was most recently head of small business risk at American Express Australia.