Weekly Lending Review: week 32
Week 32: 5 – 11 August 2013
Over £3 million worth of lending opportunities were listed on the marketplace last week and the majority of new loans were allocated to the A risk band. Businesses looking for funding included a travel company specialising in yacht holidays and a Brighton deli.
There were 60 new business loans listed last week and there are currently 41 auctions on the marketplace.
The total value of the new listed loans was £3,084,500; that’s an average of £51,408 per loan. The largest loan value was £100,000 and the smallest loan value was £10,000.
Business loans still available for bidding on for the next 3 days or more:
- Lancashire-based civil engineers are looking for a £80,000 loan
- Hair products retailer needs a £70,000 loan
- Long established building company requires a £50,000 loan
- Holiday operator is looking for a £100,000 loan
- Dental designer needs a £50,000 loan
- Fruit and vegetable wholesaler requires a £10,000 loan
Weekly marketplace trends
These graphs show the most recent activity on the marketplace. The average gross yield graph is reported weekly and shows a rolling two week average. Number of loans, value of loans and secondary market are reported weekly. The dates on the graph should be read as ‘week beginning’, for example: 5-Aug represents the week of 5th – 11th August.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
The Mail on Sunday wrote about the success of the Local Business Partnership; an initiative between Lancashire County Council and Funding Circle. They featured one of our great business borrowers, Ark Consultants and you can read the article here. If you want to see what Ark Consultants have done with their loan you can watch this video case study about them on our blog.
This week we’re talking about improving the filters on the marketplace and you can have your say in our community forum.
Loans defaulted last week
Software and IT services provider. Loans 34 and 521
This Hertfordshire-based business provides speciality software to the NHS but was put into administration in June. The original loan amounts were £30,000 and £75,000 and all 781 investors have been notified.
Countryside maintenance company. Loans 263 and 1016
This Oxfordshire business had been trading for over 10 years but went into liquidation in November last year. The original loan amounts were £20,000 and £10,000 and all 272 investors have been notified.
Enjoy lending, The Funding Circle team
– See more at: https://www.fundingcircle.com/about-us/our-blog/weekly-lending-review-week-32#sthash.WybaAOoK.dpuf