Funding Circle response to “DO NOT LEND with Funding Circle”

Hi Andrew

Thank you for taking the time to post a review.

Prior to the situation with COVID-19 loan parts were selling on the secondary market at a steady rate, however slower than you may have become accustomed to.

As part of our ongoing measures to protect investor returns, we have taken the decision to pause the secondary market while we continue to evaluate the potential impact of Covid-19.

This forms part of a number of measures introduced recently. As a regulated platform, we also want to ensure that loans bought and sold by investors on the secondary market are priced fairly. This means taking into account the wider economy and how it might impact small businesses.

Given the current environment we have decided to be prudent and pause all loan part sales on the secondary market. This does not affect your ability to access funds from the monthly repayments you receive from borrowers. If your lending is turned off you will typically receive 3-5% back of your outstanding portfolio every month.

As we have more clarity over the coming months, we hope to be in a position to resume the secondary market.

If you would like to discuss this with a member of our investor support team please give us a call on 0800 048 2467 or email contactus@fundingcircle.com.

The Funding Circle team.