Any money that is not lent out can immediately be withdrawn from your Funding Circle investor account. For money that is lent out, there are a number of ways to get access to your money.
Firstly, most loans on Funding Circle are monthly repayment loans. Therefore, you can stop lending out your repayments to new loans and withdraw funds as your money accumulates. If you are using Autobid you will need to remember to switch this off.
Alternatively, if you want quicker access to your money you can sell some or all of your loan parts to other investors, for a 0.25% charge on each loan part. You can sell your loan parts using our Autosale tool, which will automatically list for sale a certain number of loan parts, or you can individually pick the loan parts you would like to list for sale.
As parts of existing loans offer immediate interest, without any need to wait for the loan arrangement to be completed, they can be used by investors to build a portfolio of loans without waiting for the loan to be finalised and accepted by the borrower.
Your ability to sell loans may be influenced by the repayment history of the loan, the interest rate it pays relative to the market, and the balance of investors looking to lend and businesses looking to borrow, at the time of sale.
There may be some circumstances which prevent loan parts from being sold. For example, loans that have had their risk bands ‘downgraded’ due to a credit event or are late in their repayments or have defaulted under the Loan Contract. Find out more about restrictions.