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.
Hi Githa,
Thank you for the much awaited update.
I/we look forward to see a response from Fusion.
/Claus
Until then you might explain why https://www.myc4.com/Invest/Loans/View/7129/LoanDetails is listed as repaid with a huge loss?
Best regards
Henrik
Hello Henrik,
The four loans are listed as repaid due to a system error which occurred yesterday when we deleted the pending repayments. We are in the process of correcting the error.
Best,
Githa
Hi again,
We have now fixed the error and deleted the pending repayments. Kindly let me know if you notice any irregularities.
Regards,
Githa