Meet the Funding Circle team. Weekly Lending Review: week 45
Week 45: 4 – 10 November 2013
We had our biggest week for fully submitted applications from businesses which will result in many more lending opportunities in the weeks to come. £3.5 million was lent to businesses last week and a further 71 business in the UK were looking for funding. The majority of businesses were located in the South East; 36 were looking for expansion funds and 31 needed working capital.
There were 71 new business loans listed last week and there are currently 46 auctions on the marketplace.
The total value of the new listed loans was £3,654,020; that’s an average of £51,465 per loan. The largest loan value was £150,000 and the smallest loan value was £10,000.
Business loans still available for bidding on for the next 3 days or more:
- LED manufacturer is looking for a £100,000 loan
- Construction company in the North East requires a £30,000 loan
- Driving school needs a £40,000 loan
- Organic foods importer is looking for a £71,000 loan
- Fuel and gas distributors need a £55,000 loan
- IT infrastructure business requires a £50,000 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: 4-Nov represents the week of 4th- 10th November.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
Following from our first team interview where we met the customer relations team, we have also spent 5 minutes with the insolvency team, headed up by Andrew. You can read about their backgrounds, what they do outside of Funding Circle and what they consider to be the highs and lows of their job.
Loans defaulted last week
No loans were defaulted.
Enjoy lending, The Funding Circle Team