Speedy Money

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by HFS.
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  • HFS #5740

    I invested in a previous loan with Speedy Money that was funded last week. Since that time Speedy Money has sought two more loans of $100,000 each which are currently on the Market Place. I would ask Market Lend to ascertain from Speedy Money whether this is because of an ever increasing loan book by Speedy Money or some other reason? I can understand that Speedy Money finds loans at 16% per annum attractive when they lend at 24% per month or 288% per annum but the frequency of requests is exponential.

    Regards,
    HFS

    HFS

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    HOMBRE #5741

    With 5 days left in the May we are expecting a record month in terms of applications, approvals and money lent. To put this in perspective, current demand is about 25% higher than six months ago when we started with MarketLend, and three times what is was a year ago.

    In addition, June and July are usually busy times for short-term loans as consumers manage the timing of their expected Tax refunds.

    We also have a number of new branded websites in production scheduled for release in the coming weeks. At this point, we envisage devoting further resources to marketing, and increasing the size of the loans we offer.

    As a result, we are looking to raise further capital to support the expected growth of the loan book. We are managing the time it takes to have the MarketLend listings filled by publishing them now, and are conscientiously working to increase demand in a manageable and controlled way.

    With this in mind you should expect more repeat listings from us on the MarketLend platform.

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    HFS #5744

    David,

    Thank you for your prompt and informative reply. As you may understand it is hard to commit without all current information.

    Regards,
    HFS

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