|
|
Post by ruralres66 on Apr 1, 2020 14:22:19 GMT
P2P lending restrictions removed from coronavirus loan applications
MARC SHOFFMAN INDUSTRY NEWS, NEWS, ASSETZ CAPITAL, BRITISH BUSINESS BANK, CORONAVIRUS, JUSTUS, PEER-TO-PEER LENDING
JustUs and Assetz Capital are among the peer-to-peer lenders that have applied to the Coronavirus Business Interruption Loans Scheme (CBILS).
The government is backing emergency loans to help struggling businesses amid the pandemic, channelled through the British Business Bank (BBB), the state development lender.
The BBB, in turn, will provide funds to accredited lenders. Application forms to become an accredited lender for the government-backed emergency business loans were updated earlier this week, with expanded eligibility criteria.
The previous forms and eligibility criteria was based on the Enterprise Finance Guarantee, which explicitly excluded P2P lenders........
|
|
jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
|
Post by jlend on Apr 1, 2020 14:31:25 GMT
Was in the email AC sent on Monday.
|
|
Mikeme
Member of DD Central
Posts: 428 
Likes: 331
|
Post by Mikeme on Apr 1, 2020 14:32:20 GMT
That looks like good news.
|
|
mark
Posts: 163
Likes: 166
|
Post by mark on Apr 1, 2020 14:56:28 GMT
P2P lending restrictions removed from coronavirus loan applications
MARC SHOFFMAN INDUSTRY NEWS, NEWS, ASSETZ CAPITAL, BRITISH BUSINESS BANK, CORONAVIRUS, JUSTUS, PEER-TO-PEER LENDING
JustUs and Assetz Capital are among the peer-to-peer lenders that have applied to the Coronavirus Business Interruption Loans Scheme (CBILS).
The government is backing emergency loans to help struggling businesses amid the pandemic, channelled through the British Business Bank (BBB), the state development lender.
The BBB, in turn, will provide funds to accredited lenders. Application forms to become an accredited lender for the government-backed emergency business loans were updated earlier this week, with expanded eligibility criteria.
The previous forms and eligibility criteria was based on the Enterprise Finance Guarantee, which explicitly excluded P2P lenders........
Excellent news. To all the acmoaners, this is evidence of the intense hard work that Assetz Capital are diligently working on behind the scenes. Although this is at an early stages, a recognition of how AC management are progressing with pro active, positive, action should be appluaded. Support Assetz Capital management.
|
|
|
|
Post by ruralres66 on Apr 1, 2020 15:05:01 GMT
Was in the email AC sent on Monday. no I found this today ( 1st April) P2P Finance news who are told before we punters are.....
|
|
mark
Posts: 163
Likes: 166
|
Post by mark on Apr 1, 2020 15:21:50 GMT
Was in the email AC sent on Monday. no I found this today ( 1st April) P2P Finance news who are told before we punters are..... By 'Punters' do you mean those who did not read Stuart's update email sent yesterday.... Quote We have operated the business prudently and have some good news for you in this message. In addition, as those of you who’ve seen the reports in the Financial Times and elsewhere will already know, we have great existing Government relationships and are working with an aim to progress these to large scale new funding lines as quickly as possible. This will supplement retail investment, not replace it. Being big is sometimes good and the very advanced position we are in in terms of Government relationships is expected to really help us all. Overall, we are realistically optimistic for how we manage this situation, but what do I mean by that? I mean that we have made strong progress on many fronts to protect you, our investors, as well as our borrowers and ourselves in the next few months, and then to take us strongly out into the other side of this. This isn’t so much hope, but instead it is real plans being executed well and as quickly as posdible
|
|
mark
Posts: 163
Likes: 166
|
Post by mark on Apr 1, 2020 15:26:20 GMT
Was in the email AC sent on Monday. no I found this today ( 1st April) P2P Finance news who are told before we punters are..... Even in good news an unfounded complaint !
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Apr 1, 2020 15:30:51 GMT
no I found this today ( 1st April) P2P Finance news who are told before we punters are..... Even in good news an unfounded complaint ! I expect the email had most people at fees 
|
|
jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
|
Post by jlend on Apr 2, 2020 7:40:11 GMT
|
|
sapphire
Member of DD Central
Posts: 489
Likes: 413
|
Post by sapphire on Apr 2, 2020 10:14:55 GMT
Not sure if this has previously been mentioned on this forum: "Assetz Capital to launch broker portal after Covid-19 crisis": link |
|
cb25
Posts: 3,528
Likes: 2,668
|
Post by cb25 on Apr 2, 2020 10:18:40 GMT
Not sure if this has previously been mentioned on this forum: "Assetz Capital to launch broker portal after Covid-19 crisis": linkIn this thread by treetophugger
|
|
m2btj
Member of DD Central
Posts: 631
Likes: 772
|
Post by m2btj on Apr 2, 2020 10:34:48 GMT
As in 2008, it would appear that banks are reticent to lend to SME's. There are a number of P2P lenders, inc AC, that would be better suited to provide government backed Coronavirus Business Interruption Loan Scheme cash. I certainly hope that the P2P industry can step up to the plate & persuade The Treasury that fintech provides a better option than staid & traditional banks. www.bbc.co.uk/news/business-52126658 |
|
mark
Posts: 163
Likes: 166
|
Post by mark on Apr 2, 2020 10:48:22 GMT
Not sure if this has previously been mentioned on this forum: "Assetz Capital to launch broker portal after Covid-19 crisis": linkIn this thread by treetophuggerThank you cb25. This article ftom Bridging and Commercial today demostrates how Assetz Capital are progressing with business as usual seeking growth opportunities.
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Apr 5, 2020 9:49:54 GMT
For those investing in AC via Seedrs. There is a lengthy message from Stuart from 1. April on the discussion board. Not much that we don't know already, but a good summary of the state and measures in place.
|
|
Mikeme
Member of DD Central
Posts: 428
Likes: 331
|
Post by Mikeme on Apr 5, 2020 11:26:00 GMT
For those investing in AC via Seedrs. There is a lengthy message from Stuart from 1. April on the discussion board. Not much that we don't know already, but a good summary of the state and measures in place. Can you tell me where to find it please?
|
|
