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.

New loans

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:

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)

yield

Number of listed loans per week

number

Listed loan value per week

value

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.

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!

Community Discussions

This week we’re talking about display suggestions for the loan request page. 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

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

* Terms & conditions apply

Read last week’s lending review

Jack Pritchett

Senior Communications Manager