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Funding Circle fills £1M loans in hours
Lenders of Funding Circle have managed to fill over £1million of new loan requests within a matter of hours, including one loan for £200k. There was a time when loans would only be filled within the last few days of an auction, whereas now they are filled within the first few hours of a 1 week or 2 week listing period. This is good news for borrowers as currently borrowing demand is less than the supply from lenders, but as the rate of borrowing increases I would expect this to move towards more of an equilibrium.