Funding circle
Discussion
Yes, I use it, mainly because it's quite an interesting way of getting a better rate than in the bank.
I've had no bad debt at all, and that's been a year. A lot of the loans are guaranteed by the directors of he company, or indeed some new ones are secured against property so it is fairly secure.
I have averaged 7.6%, not bad compared to ISAs at ~2%...
Not terribly sure on the liquidity side of things because I've never sold any of my loan parts, hopefully someone else can help with that, it'd be interesting to know...
I've had no bad debt at all, and that's been a year. A lot of the loans are guaranteed by the directors of he company, or indeed some new ones are secured against property so it is fairly secure.
I have averaged 7.6%, not bad compared to ISAs at ~2%...
Not terribly sure on the liquidity side of things because I've never sold any of my loan parts, hopefully someone else can help with that, it'd be interesting to know...
I've got a nominal amount in to test the waters. Only been invested a few months though so not much to report. Looks worth a punt though. I'll be giving it a few more months and then perhaps put something more substantial in. Does take time to get invested though if you don't want to risk the higher risk loans.
Utter crap experience.
Went for only A rated stuff early on. But combo of prepack's and other shenanigans meant I barely got my money back.
Add on the time and Im down in net present value terms.
Sounds like others have had better luck.
IMO Ratesetter or Zopa are better and have guarantee's
Went for only A rated stuff early on. But combo of prepack's and other shenanigans meant I barely got my money back.
Add on the time and Im down in net present value terms.
Sounds like others have had better luck.
IMO Ratesetter or Zopa are better and have guarantee's
Yes, exactly the same experience as Ringram with pre-packs and what seemed to be a combination of poor credit reviewing and a sense that people taking loans on a corporate basis leave any moral obligation to repay at the door. You're getting equity style risk for debt style return. I withdrew completely and was at best break-even. Now with P2P I only use Crowdcube for equity exposure* and Zopa for debt. Excellent experiences with both there (see disclaimer...)
- Disclaimer - Crowdcube is a great platform and I support its philosophy of improving access to capital funding for small firms BUT it is at the risky end of the scale like a fully grown tiger in a two-bed flat flat is a risky choice for a toddler's first pet. If you can't afford to lose 100% of your money don't do SEIS investing.
Fotic said:
How much research did you do into the co's you invested in and what %age of your investment went into individual co's?
Was a while ago but as I remember I went with their credit reviews and stuck to the A graded offers, and put a few hundred in each. Final straw was a firm that went under after about 3 months, total wipeout of creditors (note you are junior unsecured debt). I did a lot of digging around and the firm had pre-packed, and re-opened the following week same premises, officers, name, business line. Edited by Newc on Saturday 2nd August 08:18
Personal stuff comes with legal recourse and some lenders offer guarantee's
Why would you risk(waste) money on corporate shell's with no come back!?
Now if/when they add a guarantee that might be a different story.
As above, too many cocks who fancy free cash and wind up their companies once they have it. Avoid IMO.
Why would you risk(waste) money on corporate shell's with no come back!?
Now if/when they add a guarantee that might be a different story.
As above, too many cocks who fancy free cash and wind up their companies once they have it. Avoid IMO.
Simpo Two said:
Newc said:
like a fully grown tiger in a two-bed flat flat is a risky choice for a toddler's first pet.
Nice phrase! I expect every IFA from Lands End to John O'Groats will now drop the 'crystal ball' line and use the tiger line instead 
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