Post by dazp70 on May 29, 2020 10:10:08 GMT
Mail from FC
Dear Sir,
Thank you for getting in contact with us.
I am pleased to confirm we are offering payment holidays to businesses which are assessed and offered on a case by case basis.
We have temporarily paused the secondary market, which means you are unable to sell your loan parts to other investors. This is part of our ongoing work to protect investor returns as a regulated platform, it’s important to ensure loan parts sold on the secondary market are sold at prices appropriate to how the economy may perform.
The ongoing situation currently presents a number of significant unknowns, for example how long the restrictions facing small businesses will last or how severe any economic impact will be.
As loans sold to other investors on the secondary market currently can’t reflect how these unknowns may impact the businesses you lend to, we consider it prudent to pause the market to protect returns while we continue to evaluate COVID-19s potential impact on the economy.
As this is a rapid moving situation it is something we will continue to progressively monitor the situation and have more certainty in how the developing economic situation will impact the businesses investors lend to.
I hope this is clear and helps clarify, however should you have any further queries, please do not hesitate to contact us.
Kind regards,
Funding Circle
Dear Sir,
Thank you for getting in contact with us.
I am pleased to confirm we are offering payment holidays to businesses which are assessed and offered on a case by case basis.
We have temporarily paused the secondary market, which means you are unable to sell your loan parts to other investors. This is part of our ongoing work to protect investor returns as a regulated platform, it’s important to ensure loan parts sold on the secondary market are sold at prices appropriate to how the economy may perform.
The ongoing situation currently presents a number of significant unknowns, for example how long the restrictions facing small businesses will last or how severe any economic impact will be.
As loans sold to other investors on the secondary market currently can’t reflect how these unknowns may impact the businesses you lend to, we consider it prudent to pause the market to protect returns while we continue to evaluate COVID-19s potential impact on the economy.
As this is a rapid moving situation it is something we will continue to progressively monitor the situation and have more certainty in how the developing economic situation will impact the businesses investors lend to.
I hope this is clear and helps clarify, however should you have any further queries, please do not hesitate to contact us.
Kind regards,
Funding Circle
