Rules for peer-to-peer lending announced. Your weekly lending review
Week 10: 3 – 9 March 2014
Last week, 97 new loans were listed on the marketplace, most of which were allocated to the A risk band. The majority of businesses looking for funding were located in the South East of England and the most popular business sectors were manufacturing and property & construction.
There were 97 new business loans listed last week and there are currently 90 auctions on the marketplace.
The total value of the new listed loans was £5,285,700; that’s an average of £54,492 per loan. The largest loan value was £150,000 and the smallest loan value was £6,000.
Business loans still available for bidding on for the next 3 days or more:
- American foods importer is looking for a £100,000 loan
- Water bottle producer needs a £150,000 loan
- Vehicle repair centre requires a £80,000 loan
- Online clothes retailer is looking for an £88,000 loan
- Family farmers are looking for a £60,000 loan
- Medical services provider requires a £40,000 loan
- Machinery retailer needs 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: 3-Mar represents the week of 3rd – 9th March.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know about
Peer-to-Peer Lending Regulation
Last week, the Financial Conduct Authority published the final rules for peer-to-peer lending which will take effect on 1st April.
The top 6 P2P industry news articles from last month
Including the Daily Telegraph kicking off a campaign which called for peer-to-peer lending to be included within a stocks and shares Isa.
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Loans defaulted last week
Camping shop. Loan ID 1950
This Swansea business has been trading since 2003 and has failed to keep up with repayments. The original loan amount was £51,500 and all 568 investors have been notified.
Windows manufacturer. Loan ID 1873
This Newark business has been trading for 6 years and went into liquidation in December. The original loan amount was £25,000 and all 238 investors have been notified.
Printing company. Loan ID 71
This Wiltshire business has been trading for 20 years and has failed to keep up with repayments. The original loan amount was £30,000 and all 253 investors have been notified.
Solicitors firm. Loan ID 3298
This St Albans legal firm has been trading for 6 years. The original loan amount was £100,000 and all 1,076 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