Hi.Can you tell me if you are lending through an intermediary or dealing directly with the companies you wish to lend to. Are you involved in any other business or employment? What work do you have to do right now in coneection with your peer to peer lending? Is it all handled for you by the intermediary?
Hi. I am lending through funding circle (so an intermediary, although technically I still choose which companies on the site to lend to). I am currently in full time employment, although I plan to 'retire' in the not to distant future and live off income from a variety of investments (including these). My involvement is to choose companies to lend to, select amounts to lend and the rates I'm willing to lend at. That said, I am not dealing with companies directly and I'm not that selective. I plan to manage risks by lending small amounts to 100s, if not 1000s, of companies rather than try and be too clever about credit research. Debt collection and recovery is managed by funding circle. Please let me know if you need anything else.
That's excellent, thanks. I've tried the money lending forums and nothing that helpful... just lots of people speculating how much lending to how many companies might be classified as carrying out a money lending trade!