Fusion Capital Ltd, one of the MYC4 Providers, has made a strategy to prioritise its SME activities such that focus is more on equity than on debt. Fusion therefore decided a couple of months ago to pay out the four outstanding loans on the MYC4 platform to effect a smooth transition (read more about Fusion Capital’s new equity fund on Reuters).
Fusion entered the final repayments in the MYC4 system back in August, however most of the amount remains outstanding (33 % received so far). In light of this development, MYC4 will ensure that the delayed repayments are deleted in the system as soon as possible in order to let the four loans accrue due interest while Fusion prepares to transfer the rest of the funds. In addition, we will make sure that the received repayments are re-entered correctly in the system and then processed into investor accounts.
We wish Fusion Capital success with the new venture.