More than £90m has been lent through the Funding Circle Isa since it was launched late last year.
- £80m lent through Funding Circle Isa
- P2PFA members approach £9bn lending mark
- Funding Circle lends £123m to businesses in March
Funding Circle Isa account holders can transfer any funds they hold in a cash, stocks and shares, or Innovative Finance Isa into their Funding Circle Isa, allowing them to earn a projected return of 7.2% per annum after fees and bad debt.
Once the funds have been transferred, the time taken to complete the process depends on the type of Isa chosen.
Cash Isas are expected to take up to 15 working days, with stocks and shares and IFIsas taking up to 30 working days.
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