Assetz Capital said funds from investors in the Access Accounts queue are now flowing into Access Accounts, thanks to a growing pipeline of loans that are expected to be drawn down in the coming months.
The peer-to-peer business lending platform changed how its access accounts work during the pandemic as increased withdrawal requests reduced liquidity. It introduced a queuing system and withdrawal fees that would only be charged under “non-normal market conditions”.
There is currently a queue for new investments in Assetz Capital access accounts due to the level of demand.
“We’re excited to let you know that Access Account Queue funds are beginning to flow into Access Accounts, and you may be able to see a reduction in your Queue funds,” the platform said in an update emailed to investors.
“Please keep up to date with the Access Accounts market via your Dashboard. You may have noticed that your active instructions have decreased as we have drawn more loans and have additional capacity. Additionally, your past instructions will display the date, time and amount that was entered into the access account.
Read more: Assetz Capital is working on a £20m loan pipeline to meet investor demand
“We have a growing pipeline of loans which are expected to be retired over the next few months. This can be viewed in the platform’s dashboard under ‘market – active loans’.
Going forward, Assetz Capital said it will maintain a small queue for investors to access access accounts to maintain provision fund contributions and help maintain interest rates payable. at published target rates.
Assetz Capital said on its website that time frames will vary for funds to be fully invested, as investors will have to wait until there is sufficient capacity to accept funds. This may depend on the size of the investment and the volume of loans available.
“We plan to significantly increase our operations over the coming year and we will continue to aim to provide our investors with attractive returns – which, given the current spike in inflation which is impacting our cost of life, have never been such a necessary income for so many people,” the firm said.
Last November, Assetz Capital announced that it had restarted lending on all of its lending products.
However, it is taking time to bring its retail loan production up to the level of investor demand.