Peer-to-peer firm Wellesley is facing a battle to stay afloat according to reports from the Daily Mail.
The Mail claimed the asset backed lender was seeking a £1.5m investment from members of the public - however it has raised just£200,000 of the required amount.
This comes after claims last year from auditors that the firm would face collapse if it did not raise new funds.
In accounts published at the end of last year Wellesley revealed that it had made a £3.3m loss for the 18 months to the end of 2015.
The Daily Mail added that the business had £10.2m of loans that had gone bad or were past their due date as of December 31, 2015.
Back in September Shareholders pumped an extra £2.5m of cash into the business with the majority coming from chief executive Graham Wellesley (pictured), the Earl of Cowley.
Speaking to the Mail Wellesley said: "Our loan book is very healthy, we are not worried or concerned. Any further money raising is to fund stable future growth."'
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