ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,333 
Likes: 11,556
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Post by ilmoro on Feb 5, 2017 16:33:59 GMT
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elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
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Post by elliotn on Feb 5, 2017 16:45:19 GMT
Couple of my faves  This site is blocked for me, so none the wiser :/ Would trade/invoice finance come under working capital finance instead, what about loans to help finance companies, say, T***s**k currently available on AC, could they be caught? Thanks. |
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james
Posts: 2,205
Likes: 955
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Post by james on Feb 5, 2017 22:38:12 GMT
Both ablrate and MoneyThing have loans that could be within the FCA's definition of wholesale lending to groups that lend to others. Some of the most attractive and apparently lowest risk loans on the platforms, with features like the borrower taking responsibility if their customer defaults, beyond that offered by the security. It would be most unfortunate to see some of the lower than average risk deals vanish. To some extent the deals could probably still be done by adjusting the packaging and providing cross-guarantees such that the loan is directly to the end borrower(s) but the current borrower is still taking the credit risk. |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,333
Likes: 11,556
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Post by ilmoro on Feb 5, 2017 23:22:41 GMT
crowdstacker01 must also be vunerable because two of their opportunities I think are to finance companies to fund their own loan businesses. I wonder if RS where it loans money to mobile phone and commuters through partners might also fall foul of this without tweaking elliotn not sure why its blocked as not restricted/paywall site, Ive added an alternative link to OP to the sister site which might work
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elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
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Post by elliotn on Feb 6, 2017 1:03:58 GMT
Thanks, ilmoro, my guess is the government didn't like some of the DM reporting (and who could blame them  ) Edit - still blocked but a vpn worked...and revealed the black box I worked in next to the Gherkin! |
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starfished
Member of DD Central
Posts: 298 
Likes: 216
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Post by starfished on Feb 6, 2017 8:31:47 GMT
You can increasingly see why Zopa thought it would be easier to just get a banking licence...
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pikestaff
Member of DD Central
Posts: 2,188
Likes: 1,546
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Post by pikestaff on Feb 6, 2017 8:40:49 GMT
Thanks, ilmoro , my guess is the government didn't like some of the DM reporting (and who could blame them ) Edit - still blocked but a vpn worked...and revealed the black box I worked in next to the Gherkin! Both links work fine for me.
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dandy
Posts: 427
Likes: 341
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Post by dandy on Feb 6, 2017 12:52:25 GMT
i think crowdstacker is what the FCA are getting at here. Raising £10m secured against £50m of assets. cough cough. misleading is putting it mildly
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This site is blocked for me, so none the wiser :/ Would trade/invoice finance come under working capital finance instead, what about loans to help finance companies, say, T***s**k currently available on AC, could they be caught? Thanks.
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