Funding Circle have made some amendments to their minimum lending rates. The P2P money blog reported last week that the minimum lending rates had been increased from 4% to between 6% (for A+ borrowers) and 10.5% (for C borrowers). Following 64 pages of comments on the Funding Circle forum, these have been amended to between 6% (for A+ borrowers) and 9% (for C borrowers). In addition they have stated that future changes will have 2 weeks notice.

A skeptical lender could say that Funding Circle have done a U-turn, but it would be fairer to state that they have listened to feedback and made changes. It was 12 months ago when lenders threatened strike action after a rate change on another P2P company, and a year later after failing to reverse their decision lending was down 90%.

Here is the full statement on the Funding Circle blog: