FutureBricks repays lender capital ahead of schedule before the P2P exit

FutureBricks has repaid all of its personal lenders to give them an early exit from their live loans before leaving the peer-to-peer lending space.

The platform announced that the invested capital and all interest due up to the repayment date has now been returned to the personal lender’s FutureBricks e-wallet. All loans were transferred to the corporate loan arm.

Peer2Peer financial news understands that the process was quick as the platform only had three live loans.

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“We are pleased to have successfully rolled over all of the live loans to our corporate lending space, which allows us to focus on the business-to-business (B2B) lending side by fueling the growth of our corporate and institutional lender base Take in Lenders. ”FutureBricks said in an email update to investors.

Last month, FutureBricks announced that it had decided to move out of P2P retail space due to regulatory pressures affecting the “potential commercial viability of P2P”.

She will prioritize the expansion of the B2B lending side by integrating further institutional lenders and then plans to build a one-stop platform for financing and expertise for small and medium-sized enterprises (SMEs).

In the further course, the platform will be reviewed in order to start an unregulated credit-based personal loan arm for discerning investors and wealthy investors.

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“It’s more of a combination of everything that comes together to affect the potential commercial viability of P2P,” said a FutureBricks spokesman.

“We’re focusing on institutional lending and the loan investor we’ve signed with, and we’re building our lines of finance for businesses.

“We’re focused on strengthening corporate lines with institutional funding and building a one-stop-shop platform with existing in-house technology and expertise so people can come to the platform for funding and expertise and for a talent marketplace to get people for a project bring together. ”, like planners, architects and building contractors.

“A one-stop platform for all the needs of SME house builders with everything under one roof.”