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Peer2Peer Finance News | July 23, 2019

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RateSetter pushes back legacy wholesale lending repayment date

July 23, 2019 |

RATESETTER’S exposure to its discontinued wholesale lending portfolio will take longer to be repaid than first anticipated, the peer-to-peer lender has revealed.

The platform discontinued wholesale lending at the end of 2016 and acquired three companies associated with a former … Read More

Lendy administrator outlines the state of collapsed P2P lender’s loanbook

July 16, 2019 |

LENDY investors are likely to receive an average of 57p on the pound for development finance and 58p for every pound from bridging loans funded on the collapsed peer-to-peer lending platform.

RSM, administrator of Lendy since its collapse in May, … Read More

Growth Finance Awards announces full list of finalists

July 8, 2019 |

A COMPREHENSIVE list of all finalists for the inaugural 2019 Growth Finance Awards has now been unveiled, with peer-to-peer lenders competing in a number of categories.

The 47 finalists, all providers of debt to UK businesses, were announced by Intelligent … Read More

Pricing for Funding Circle’s latest securitisation is revealed

July 3, 2019 |

FUNDING Circle’s latest securitisation has been priced.

Its senior A tranche has been given a coupon of 1.2 per cent above one month Libor, while its B class is priced at 1.8 per cent.

The coupon on its C, D … Read More

ThinCats names former Barclays exec as director of underwriting

July 2, 2019 |

THINCATS has appointed former Barclays executive Andy Hegedus as its director of underwriting.

Hegedus (pictured) joins the peer-to-peer business lender after spending 12 years at Barclays in its small- and medium-sized enterprise (SME) credit team and was also a relationship … Read More

P2P lenders braced for fee hikes as FCA confirms funding requirements

July 1, 2019 |

PEER-TO-PEER lenders will be among the financial services firms seeing their regulatory bills increase this month.

The Financial Conduct Authority (FCA) has confirmed its annual funding requirement for 2019/2020, revealing that it will need £558.5m from all regulated firms.

This … Read More

Funding Circle set for its largest ever securitisation

June 25, 2019 |

DEUTSCHE Bank has unveiled more details on Funding Circle’s fourth securitisation, revealing it will be the highest-value package of loans it has offered so far.

The investment bank, which has been mandated as sole arranger and lead manager, said the … Read More

MarketInvoice: SMEs favour invoice finance over business loans for growth

June 24, 2019 |

ONLY one in 10 small- and medium-sized enterprises (SMEs) would use a traditional business loan to grow their firm, research claims.

A poll of 1,000 business owners by MarketInvoice found invoice and asset based finance were the most popular funding … Read More

Losses grow at Crowdstacker but its assets are on the rise

June 21, 2019 |

CROWDSTACKER’S cumulative losses since inception rose to £1.3m for the 12 months to March 2019, but it has been boosted by more share capital and cash at the bank.

The peer-to-peer business lender’s annual accounts showed it made a loss … Read More

LendingCrowd appoints first general counsel

June 20, 2019 |

LENDINGCROWD has appointed Robbie McKenzie to the newly created post of general counsel and chief risk and compliance officer.

McKenzie (pictured) joins the Scottish-based peer-to-peer lender from Pollen Street Capital where he held a similar role.

He has also held … Read More