iPad app & update to the annual net return. Weekly Lending Review
Week 8: 17 – 23 February 2014
Last week, a record £6.3 million worth of new loans were listed on the marketplace, available for you to lend to. The majority of loans were assigned to the A risk band and the South East of England had the most businesses looking for funding.
Investors have also secured rates as high as 15%, 14.9% and 14.7% for loans accepted in the C-, B and A risk bands respectively* so now is a great time to increase your lending to businesses across the UK.
There were 97 new business loans listed last week and there are currently 84 auctions on the marketplace.
The total value of the new listed loans was £6,313,520; that’s an average of £65,088 per loan. The largest loan value was £250,000 and the smallest loan value was £10,400.
Business loans still available for bidding on for the next 3 days or more:
- Communications provider needs a £250,000 loan
- Property construction company requires a £125,000 loan
- Retailer of automotive parts is looking for a £100,000 loan
- Butcher based in Wales needs a £100,000 loan
- A firm of chartered accountants require a £150,000 loan
- Plant hire company 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: 17-Feb represents the week of 17th – 23rd February.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Our iPad app has landed in the App store
You can now download the Funding Circle app for free for use on your iPad. You won’t miss out on the end of auctions again as you can turn on alerts which will notify you of auctions closing.
Annual net return increase
Last week we updated the headline annual net return rate across the site. We have also decided to change the headline rate from a simple average to a weighted average based on the amount each investor has lent, as we think this is a better reflection of the performance of all lending.
Recommend a friend and share £80
If you recommend a friend to Funding Circle and they lend at least £1,000 to our great British businesses, you could each have £40 cashback** paid into your Funding Circle accounts!
Unsure how to get started?
Take 5 minutes to read through our blog which explains how to start lending to businesses through Funding Circle.
Loans defaulted last week
Egg producer. Loan ID 1396
This Scarborough business produces free range eggs and has been trading since 2010. The original loan amount was £20,000 and all 234 investors have been notified.
Adult careers service. Loan ID 1546
This Bridlington business has been trading since 2001 and has failed to keep up with repayments. The original loan amount was £50,000 and all 571 investors have been notified.
Our insolvency team are working to recover the outstanding amounts for all of these loan.
Enjoy lending, The Funding Circle Team
*Based on all successful bids into loans accepted between 17/02/2014 and 23/02/2014. For further information please see our statistics page.