Weekly Lending Review: week 36
Week 36: 2 – 8 September 2013
Last week, one of the largest business loans we have ever listed appeared on the marketplace. An IT company based in Buckinghamshire is looking for a £450,000 loan, which is still available to bid on. Most businesses were located in the South East and the majority of business owners cited expansion and growth capital as the reason for needing finance.
There were 50 new business loans listed last week and there are currently 29 auctions on the marketplace.
The total value of the new listed loans was £3,042,500; that’s an average of £60,850 per loan. The largest loan value was £450,000 and the smallest loan value was £10,000.
Business loans still available for bidding on for the next 3 days or more:
- A Worcestershire baby-brand needs a £75,000 loan
- Long established software provider is looking for a £55,000 loan
- Ceramic producer requires a £125,000 loan
- Property renovators need a £100,000 loan
- Manchester jewellery supplier is looking for a £70,000 loan
- Civil engineers require a £100,000 loan
- Helicopter retailer needs a £100,000 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: 2-Sep represents the week of 2nd – 8th September.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
If you follow our regular video updates, you’ll know that there are some amazing independent British businesses using Funding Circle so we thought we’d feature some of the great products and services that come out of you supporting them. The first up is Saber Powersports in Southampton, who have offered up to 75% off their water-based adventure experiences to the Funding Circle community.
Have you seen the new Funding Circle blog? Be sure to subscribe to it with your email address to get regular updates: https://www.fundingcircle.com/blog/.
Loans defaulted last week
Photographic equipment retailer. Loans 462 & 1555
This Leicester-based business has been trading since 2006 but encountered cash-flow difficulties this year. The original loan amounts were £75,000 and £45,000 and all 1,132 investors have been notified.
Cardiff bar operator. Loan 1718
This company runs 2 cafe/bars in Cardiff and following a downturn in trade, was put into administration in July. The original loan amount was £73,000 and all 784 investors have been notified.
Enjoy lending, The Funding Circle Team
You can read last week’s Weekly Lending Review here.