Funding Circle Pause Secondary Market

[dmahon]

This doesn't sound good. Think the P2P space will get really ugly.

https://www.fundingcircle.com/blog/2020/04/update-...

I had a small amount in there I've been trying to sell for months. Had already written it off mentally.

[Murph7355]

dmahon said:

This doesn't sound good. Think the P2P space will get really ugly.

https://www.fundingcircle.com/blog/2020/04/update-...

I had a small amount in there I've been trying to sell for months. Had already written it off mentally.

Was wondering if this had come up on here

Same boat. To be honest I'd half forgotten it was in there until I got the email from them.

Ah well. The option to pause further lending is there, but part of me thinks leaving it ticking might help some firms...so will probably say screw it and leave it as is.

[rdjohn]

Bugger!

They have now closed completely to retail investors.

I felt very virtuous when i first started lending to FC bidding on the potential success of small businesses. Then it went to them deciding who I could lend to. Then the Govt gave them a shed load of cash to play the market during covid

Now, having learnt the ropes, they dump the small investor thus boosting their margins by borrowing from the wholesale money market.

Anyone know of any similar solutions?