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Post by abuddy264 on Feb 8, 2018 13:27:46 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ?
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pom
Member of DD Central
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Post by pom on Feb 8, 2018 14:10:16 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ? The loans will be shared between a large number of lenders. The size of your loan part will be determined by your overall investment in order to get the best diversification (but £20 is always the minimum). Might I suggest you do a bit more reading before investing further.
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Post by abuddy264 on Feb 8, 2018 14:18:14 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ? The loans will be shared between a large number of lenders. The size of your loan part will be determined by your overall investment in order to get the best diversification (but £20 is always the minimum). Might I suggest you do a bit more reading before investing further. Thanks for your response and advice 😀
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cb25
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Post by cb25 on Feb 8, 2018 16:31:30 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ? See this in FAQs, FAQs for Investors, Lending, How do I lend: "Once you have transferred funds into your Funding Circle account and turned on your lending option, you will begin to lend your funds to businesses. You will place an order at a minimum of £20, up to a maximum of 0.5% of your portfolio to each business. Once each loan has been filled with orders from investors, your order will become a loan part. The minimum amount you can lend to a business is £20, so if you have less than £4,000 in your account you will lend £20 to each business." support.fundingcircle.com/hc/en-us/articles/214635866-How-do-I-lend-
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treeman
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Post by treeman on Feb 8, 2018 23:10:12 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ? Once the loans you're in start to age and begin to fall in line with expected default rates you might be glad you're only on the hook for £20 a pop (amortising may have reduced it a bit). 
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Post by captainb on Feb 15, 2018 20:20:44 GMT
I registered an account with funding circle today. So far, there have been 5 loans made but they are for ridiculously small amounts I.e £20. Why would a company want or need to lend £20 ?. Is it normal for loan amounts to be so small ? Be grateful they are. 2 of my loans have failed today, making 5 in total and a loss of £70. If they were larger pots the bigger the loss. Your £20 could be one of 5000 which make up the total loan for example
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blender
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Post by blender on Feb 15, 2018 20:31:47 GMT
The more macho among us could have a 'biggest loss' competition. You lost only £70? That's nothing!
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Post by grahamreeds on Feb 15, 2018 21:59:28 GMT
I have on £130 loan that is 14 days overdue and while I am fearing the worse I know some people are going to feel it a lot lot more. One person has £1400 on the loan and even that is small fry on some of the old hotel loans...
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Post by captainb on Apr 6, 2018 10:43:11 GMT
The more macho among us could have a 'biggest loss' competition. You lost only £70? That's nothing! It's not a competition l want to win:-) Now £170 lost. I was hoping to make a profit and to be fair l still am but that could easily change if the current trend continues.
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