registerme
Member of DD Central
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Post by registerme on Sept 24, 2015 11:16:39 GMT
With the prospect of hordes of FC refugees (or economic migrants?) descending on Lending Crowd, me included, I wonder what the plans are to increase deal flow?
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grahamg
Member of DD Central
Posts: 220
Likes: 62
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Post by grahamg on Sept 24, 2015 22:57:26 GMT
With the prospect of hordes of FC refugees (or economic migrants?) descending on Lending Crowd, me included, I wonder what the plans are to increase deal flow? With less than £1.5million loaned and less than 30 loans so far it will have to be zero to hero plan
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Post by lendingcrowd on Sept 25, 2015 10:41:10 GMT
With the prospect of hordes of FC refugees (or economic migrants?) descending on Lending Crowd, me included, I wonder what the plans are to increase deal flow? Hi registerme, As is always the case we have a number of loans totalling a relatively high value currently being assessed and we would expect a proportion of these to be on the Loan Market shortly. For information, to date we have assessed a significantly higher number of loan applications than we have put on the platform. The rest were rejected because they either do not meet our stringent credit criteria or we did not believe that the Borrower could afford to meet repayments on the loan. In saying that we are working hard to increase our investor base and as this scales we will also be working in parallel to increase the loans on our platform. Thanks, LendingCrowd
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madpierre
Member of DD Central
Posts: 303
Likes: 374
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Post by madpierre on Sept 25, 2015 11:52:06 GMT
I have been with LendingCrowd for some time and, unlike FC, I joined with the intention of holding most loans until term, due to a degree of comfort from what I believe to be a rigorous lending criteria. Yes the deal flow has been slow but I have enjoyed high rates so have been content. With hordes of FC refugees joining, achievable rates will doubtless tumble but what I do not wish to happen is for LendingCrowd to pander to the masses and increase deal flow at the expense of risk. As soon as defaults appear they would become no better than FC. However from the above response I am reassured that their strategy is sound and they will grow with the assurance of quality and not avarice  |
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