Fund­ing Cir­cle’s losses widen as pan­demic hits

The Daily Telegraph - Business - - Business -

Half-year losses at peer-to-peer lender Fund­ing Cir­cle more than tripled from £31.3m to £113m as the pan­demic stymied its abil­ity to sell on loans, forc­ing heavy write-downs. The busi­ness matches bor­row­ers with re­tail and in­sti­tu­tional in­vestors. It is now the fifth big­gest Coro­n­avirus Busi­ness In­ter­rup­tion Loan Scheme lender.

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