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The UKCFA has a bone to pick…

..And it is giving some of us aspiring crowdlending platforms a little indigestion…

The UK Crowdfunding Association (UKCFA) has been in touch with the British Business Bank (BBB) to ensure that it doesn’t just lend to the larger platforms. And the sector at large is campaigning for a preferred lender scheme, enabling borrowers to choose any BBB approved-lender as opposed to a large platform such as Funding Circle.

Meanwhile, 2015 continues to unfold as an exciting year for all those concerned with the UK Crowdfunding sector, including investors and borrowers alike. The latest news to come out of the UKCFA Feb meeting was both diverse and interesting. Matters included:

  • Withholding tax – plan is to create a whitepaper to submit to the Treasury.
  • ISA – loan based notification in March; there is a collective voice for the development of a third ISA product. Grant Thornton is going to run a survey to better understand demand for such a product.
  • Bad debts – the UKCFA highlights that losses can be spread across loans from different platforms.

That’s all folks!

Hopefully those bone-pickings will transpire to be rich-pickings next time!


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Lending Crowd

Lending Crowd

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