By Chris Bailey | Friday 17 April 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I have written on Funding Circle (FCH) a few times on this website, most recently here where I noted that targeting 'adjusted EBITDA break-even' and continuing to expect free cash outflows hardly made a compelling business case even before you considered the lack of the validity of the business model given 'it is late to the lending party and hence likely to be skewed to a bunch of loans which the big banks - for whatever reason - have passed on'. Today's update from the company sounds bullish as it has gained 'accreditation to join the British Business Bank's (BBB) Coronavirus Business Interruption Loans Scheme (CBILS)'...
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