Anyone investing via funding circle?

[doodab]

8.3% minus fees and bad debt.

Is that a good deal?

[KentPhilip]

I've got £20K of company money invested with them at about that rate of interest.
No defaults, yet.

[DeludedAussie]

I've got £20K of company money invested with them at about that rate of interest.
No defaults, yet.

And how long have they exactly been open for - I just had a look at them and I would not go anywhere near them

There is a reason that banks are charging high interest rates and that is because there is a high chance of default

[MarillionFan]

Another one seems to be Business Loans without Banks (Thincats) which is another P2P lender.

A lot of feedback on Zopa is that people are moving into Funding Circle and Thincats.

If you assume that we're out of a recession then the chance of defaulting is seriously reduced. You would still need to spread your risk around.

Could be a really useful investment from your Ltd, especially for those who like to leave money in their business and cannot get any interest on it.

[mudskipper]

Another one seems to be Business Loans without Banks (Thincats) which is another P2P lender.

A lot of feedback on Zopa is that people are moving into Funding Circle and Thincats.

If you assume that we're out of a recession then the chance of defaulting is seriously reduced. You would still need to spread your risk around.

Could be a really useful investment from your Ltd, especially for those who like to leave money in their business and cannot get any interest on it.

Did you have a go at Zopa?

[MarillionFan]

Did you have a go at Zopa?

Set it all up last night. It's like SasGuru's wet dream. You set up an offer by stating how much you want the end interest to be, it then calculates interest rates across their different markets for A,A*,B,C and Y with A* being the most credit worthy and Y being youngsters, which after bad debt rates gives you the overall average. You can then turn these off and change the interest so you're weighting the whole thing differently. It's got sliders that will tell you whether the money will lend quickly(because it's below the average being offered in that market) or will take a long time etc

Have to say when I looked mid week I was a bit intimidated by the complexity but not using it, it seems it's all down to mass statistics & risk what you're going to get back.

Ratesetter I just put it in and it accumulates at 4.5% per month and I have instant access.