Assetz Capital working on £20m loan pipeline to meet investor demand
Assetz Capital has a loan pipeline of more than £20m to keep up with investor demand in the coming months.
The peer-to-peer business lender revealed earlier this month that it has now restarted lending across all its loan products.
However, an update to investors has highlighted “substantial demand” so it is taking time for there to be a sufficient number of loans for them to fund.
“We are making every effort to bring our retail loan origination back up to the level of investor demand and have made increasing progress with over £20m in the pipeline now for the coming months,” the update from chief executive Stuart Law (pictured) said.
“Restarting retail lending again to the levels required by our investors is taking time and we do have very substantial investor demand to satisfy now that everyone is confident again in the UK economy.”
There is currently a queue for new investments in Assetz Capital’s access accounts due to the level of demand.
Law also revealed that the platform is seeing an increase in borrower demand from care and supported living providers for loans.
He added that the platform’s provision fund, which covers actual loan losses and forecasted losses in its access accounts, has increased from £4m to more than £8.5m since 2019.
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