Peer-to-peer lending to be included in Isas

Week 12: 17 – 23 March 2014

It was a fantastic week for the peer-to-peer lending industry as the Chancellor confirmed that peer-to-peer lending will be allowed within tax-free individual savings accounts (ISAs) for the first time. In addition to this, we saw over 100 new loans come onto the marketplace and the majority were allocated to the B risk band.

New loans

There were 102 new business loans listed last week and there are currently 91 auctions on the marketplace.

The total value of the new listed loans was £5,169,560; that’s an average of £50,682 per loan. The largest loan value was £150,000 and the smallest loan value was £8,000.

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: 17-Mar represents the week of 17th – 23rd March.

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 about

A great budget for peer-to-peer lending

In last week’s Budget it was revealed that peer-to-peer lending will be included in Isas and there will be a consultation into the referral of small business leads from banks to alternative funders.

Recommend a friend and share £80

If you recommend a friend to Funding Circle and they lend at least £1,000 to Funding Circle businesses, you could each have £40 cashback* paid into your Funding Circle accounts!

Community Discussions

This week we’re talking about loan parts and how the buyer’s price is calculated. You can join the discussion on our community forum.

Unsure how to get started with lending?

Take 5 minutes to read through our blog which explains how to start lending to businesses through Funding Circle.

Loans defaulted last week

Travel operator. Loan ID 4236

This London tour operator  has been trading since 2007 and has fallen into arrears with repayments. The original loan amount was £15,000 and £30,000, and all 234 investors have been notified.

Hair and beauty salon. Loan ID 2863

This Grantham business has been trading since 2003 and we’ve received notice of a change in financial circumstances. The original loan amount was £50,000 and all 647 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

 

* Terms & conditions apply.

 

Jack Pritchett

Customer Communications Manager

 

6 thoughts on “Peer-to-peer lending to be included in Isas

      • Hi Andy, the consultation with the Treasury is ongoing but we’re working with government to finalise timings and exactly how this will work, and we’ll update investors once it’s been confirmed.

        • Is there any way funding circle can keep its customers up to date about the progress of inclusion into Nisa’s. Perhaps the members weekly email can mention it even though nothing further arises. This will let members know your on top if it and haven’t forgot about it.

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