£12.5 million lent to businesses in October. Weekly Lending Review: week 44

Week 44: 28 October – 3 November 2013

Over £3 million was lent to businesses across the UK last week, contributing to a total of £12.5 million for the whole of October. New businesses looking for funding included a retailer of prescription glasses and Coventry-based fruit & vegetable retailer. The majority of businesses were in the retail sector and the most common reason for needing finance was to help them expand.

New loans

There were 62 new business loans listed last week and there are currently 44 auctions on the marketplace.

The total value of the new listed loans was £3,184,500; that’s an average of £51,363 per loan. The largest loan value was £150,000 and the smallest loan value was £6,500.

Business loans still available for bidding on for the next 3 days or more:

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: 28-Oct represents the week of 28th October – 3rd November.

Weekly average gross yield (2 weeks rolling)

yield

Number of listed loans per week

number

Listed loan value per week

value

News you should know

Our roundup of October’s peer-to-peer lending industry news is up on our blog; including details of regulation and the launch of Funding Circle in the USA.

Community Discussions

This week we’re talking about the size of loan parts selling on the secondary market. You can join the discussion on our community forum.

Loans defaulted last week

Decoration specialists from Grimsby. Loan 468

The business has been trading since 1995 and has failed to keep up with repayments. The original loan amount was £50,000 and all 330 investors have been notified.

Diamond jewellers. Loan 2100

This business is based in Gateshead and the director has not been able to make repayments. The original loan amount was £21,000 and all 267 investors have been notified.

Enjoy lending, The Funding Circle Team

 

Jack Pritchett

Senior Communications Manager

 

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