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.
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:
- Estate agents are looking for a £100,000 loan
- Car retailer needs a £100,000 loan
- Fireworks distributor requires a £100,000 loan
- Security company is looking for a £100,000 loan
- Pizza manufacturer needs a £65,000 loan
- Metal badge manufacturer requires a £150,000 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-Mar represents the week of 17th – 23rd March.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
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.
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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