2013 – a year in numbers
Over the past 12 months, Funding Circle and the peer-to-peer lending industry has come on leaps and bounds. Since January, approximately £130 million was lent to businesses across the UK, the Government joined Funding Circle, lending alongside the public, and regulation for the industry was confirmed for April 2014.
Here’s a quick roundup of the numbers from 2013
- Lending for this year alone reached nearly £130 million from investors across the UK. Nice work!
- An estimated 6,150 jobs have been created as a result of your lending this year.
- We now have more than 62,000 investors registered at Funding Circle and this number keeps on growing!
- The best week for lending was in December 2013, when £5.3 million made its way to businesses across the UK in just seven days. Who said December would be a slow month!
- The middle two weeks in November saw the largest number, and value, of loans for the whole year on the marketplace: 182 new loans were listed, resulting in £11 million of new lending opportunities during the 2 week period.
- It took 763 days to reach the first £50 million lent to businesses, 224 days to reach the second £50 million, and just 138 days to reach the third.
- 2,050 businesses have come through the Funding Circle doors and taken out loans.
- That’s resulted in 2,149 different business loans.
- The most common loan purpose was for expansion, followed closely by working capital.
- The average loan size for businesses this year was just under £60,000.
- The region with the most number of businesses taking out loans was the South East, followed by the Midlands. Were any near you?
It’s fantastic looking back at what the Funding Circle community has achieved over the past 12 months, but it’s important to recognise that it’s not all about the numbers. Your money has really made a difference to the thousands of businesses we’ve seen this year, and we look forward to welcoming many more to the community in the years to come.