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TheCountOfNowhere

Another Loss On My Funding Circle.

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just found out another business I invested in on funding circle has declared bankrupt.

it's a ten year old building firm from the north west.

I guess the recovery really is based on printed money being handed to London bankers to buy houses in the south east.

crazy, but possibly true.

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We get at least three or four "funding circle" mailshots a week begging us to borrow money. The bank sends us an invitation to borrow money at least once a month. Everywhere I look the newspapers tell me small businesses can't get money. Something doesn't add up.

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Sorry to hear that. I stayed away from property/building related firms when I was in FC. Currently out, but it may be worth it if/when the new P2P ISA's appear.

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A lot of these 'alternative' funders seem to throwing money at property developers. Have a look at the Wellesley page describing the sort of projects it lend against.

https://www.wellesley.co.uk/borrowers/

And then look at how they market this sector to people seeking a home for their newly liberated pension funds.

https://www.wellesley.co.uk/latest-news/2015/10/16/making-the-most-of-your-pension/

Would it be unreasonable to speculate as to what might possibly go wrong?

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