Update to minimum bid rates. Weekly Lending Review: week 50
Week 50: 9 – 15 December 2013
We’ve got 86 new lending opportunities and an update to minimum bid rates all in this week’s Weekly lending Review.
Last week was the second largest week for the number of businesses looking for funding and the also the second largest week for the amount lent, with £3.7 million making its way to business across the UK.
There were 86 new business loans listed last week and there are currently 70 auctions on the marketplace.
The total value of the new listed loans was £4,819,220; that’s an average of £56,037 per loan. The largest loan value was £150,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Food importer needs a £50,000 loan
- Minibus operator needs a £25,020 loan
- Luxury car retailer is looking for a £50,000 loan
- Cambridgeshire roofing company requires a £100,000 loan
- Plumbing engineers need a £25,000 loan
- A retailer of children’s educational products is looking for 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: 9-Dec represents the week of 9th – 15th December.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Update to minimum bid rates
We review the minimum bid rates in the middle of every month to decide whether they should be changed or kept the same. This month, the decision has been made to increase rates by 0.2% on the A, B and C risk bands. The new rates will come into effect for loan requests listed after 9am on Thursday 2nd January 2014. The new rates are as follows:
A+: 6% (no change)
A: 7.8% (+0.2%)
B: 8.8% (+ 0.2%)
C: 9.8% (+ 0.2%)
C-: 11.5% (no change)
Loans defaulted last week
Birmingham Engineers. Loan ID 1544
This business has been trading since 1974 and has fallen behind with repayments. The original loan amount was £50,000 and all 541 investors have been notified.
Enjoy lending, The Funding Circle Team