One of the things we’ve been extremely grateful for over the last few months has been the generosity from clients in passing us news of their wins, so we can share them with our wider client network.
Today, I’ve got a bonus tip for those of you who have Funding Circle loans, courtesy of a client tip-off!
You’ll remember that we chased Funding Circle for some time to get a decision from them on whether they were going to be able to offer any kind of payment holiday. Eventually they came back and agreed a couple of different options.
It now seems that they’re able to offer at least one of those on a repeat basis.
One of our clients has agreed today that they can repeat the payment arrangement they made three months ago, which has just come to an end.
Consequently, they’re going to pay one third of a month’s payment for each of the next three months, and add the other two months’ payments to the end of their original loan term.
The client spoke to Funding Circle because they’d had a letter reminding them that they were coming to the end of the original term.
To get the new agreement, they simply had to answer a few simple questions about how the business was recovering from Lockdown.
Our suggestion would be to give them a call and see what they say!
It could be far more useful to take advantage of the opportunity, even to keep the cash in the bank, than pay it over if you don’t need to. Bear in mind it will extend the term of your loan, and will cost you some additional interest.
If you decide to make the call, do let me know how you get on!