: Loans were secured against high-value personal assets such as jewelry, art, classic cars, boats, and property.
: On October 23, 2019, FundingSecure Ltd was placed into administration . fundingsecure.com/pawnbroker
: Factors included a high number of borrower defaults and costly ongoing litigation, such as a major fraud lawsuit involving millions in missing art collateral. Guidance for Investors and Borrowers : Loans were secured against high-value personal assets
: Approximately 3,500 investors were left with outstanding loans totaling roughly £80 million. and property. : On October 23
: Because the focus was on the asset's value rather than credit history, funds could often be released within 24 hours. Current Status: Administration
: The administrators are responsible for recovering funds from outstanding loans and distributing them to creditors according to the Financial Conduct Authority (FCA) guidelines.