MoneyThing investors pocket £10.4m in capital repayments
MONEYTHING investors have seen more than £10m of capital returned this year.
The peer-to-peer business lending platform said one of the largest loans to be repaid was a £2.26m facility provided to a hotel franchise that had built up enough of a trading history to refinance to a longer-term bank loan.
MoneyThing said that its live loan book has reduced in 2018 as a result of lower loan origination as well as loan repayments.
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’Peer-to-business (P2B) lending is quite a unique experience as lenders can see the impact of their funding, which can be very rewarding,” Sophie Pearce, managing director of MoneyThing, said.
“Yes, the returns are good, but more than that P2B has actually made a difference to the UK economy. Our lenders are part of that story.
“We’ve recruited new team members and we’re ready to enter into a new period of growth in the new year.
“Recently we’ve seen a good proportion of lender capital reinvested on the platform and we’re looking forward to bringing more interesting funding opportunities to our lenders.”
MoneyThing’s investors have supported more than £87m of funding to British businesses since the platform launched in 2015.
Borrowers range from car dealerships to Middle Eastern sweet manufacturers and English fine wine.
MoneyThing last month announced it would allow loans to be sold at premiums and discounts on its secondary market after seeking feedback from its investors.
The peer-to-peer business lender surveyed its customers and found that 65 per cent supported the changes, so the platform has said it will introduce the functionality in the new year.