Funding Circle

[MarillionFan]

Has anyone bothered lending on Funding Circle yet? I have Ratesetter and Zopa accounts but have not tried funding circle.

Anyone got any experiences?

[escapeUK]

Is it like a circle jerk?

[SimonMac]

I know a few people who use

Microfinance from CARE International UK | lendwithcare.org

[KentPhilip]

I've got £20K of company retained profits with Funding Circle at the moment,earning an average of 9% interest.
No problems at all.
One of the debts (my part £1K) went bad. It was secured on a property which was sold, and the money used to successfully repay the debt.

On the subject of Felching, I was going to joke that I enjoy that too. Untill I looked up what it actually is, and decided that it's just too disgusting to even joke about

[suityou01]

Has anyone bothered lending on Funding Circle yet? I have Ratesetter and Zopa accounts but have not tried funding circle.

Anyone got any experiences?

So you whack the corp tax in there and get 9%? Sounds risky.

[MarillionFan]

So you whack the corp tax in there and get 9%? Sounds risky.

That's my only concern with these P2P schemes. Firstly they're not FSA covered and secondly there is more inherent risk.

Regardless whether you use your Ltd or do it directly there is either corp tax involved or income tax & always the possibility of losing your money.

So let's say you go for A+ investments, which they estimate at a 1% failure to repay over the life of all of their A+ loans, and you decide to lend £10k to 10 businesses at £1000 each, you only need that 1% overall to be in one or two of your ten investments and you're screwed. They did have an interesting resale of loans which I need to look at in more detail. For example if you lend £1000 to a company at 12% say and they have been repaying well, you can sell the loan on. The buyer gets the 12% but the seller can charge a premium on the sale(ie +3%). So in theory they could have held for six months, had interest of 12% for the first six months, then sold the remaining loan for another profit of 3% to a newbie.

Thincats was also interesting. In that case you could also use funds from your SIPP to lend. I personally still prefer a Wonga style business where we the rich contractors lend to poor pikeys at 10 million percent. That seems to be a winner.

[lithium147]

So you whack the corp tax in there and get 9%? Sounds risky.

Prolly another thread, but what is one legally able to invest CT in?

I just opened 100 day notice account:
https://www.shawbrook.co.uk/business...count-issue-2/

[doodab]

Prolly another thread, but what is one legally able to invest CT in?

Paying one's CT bill?