Cashback & £6.9m of new loans

Week 13: 24 – 30 March 2014

It was the biggest week to date for the number of loans listed on the marketplace, with 121 new lending opportunities available, totalling nearly £7 million.

Funding Circle investors have also secured interest rates of up to 13.5%, 14.6% and 15%* on loans in the A+, A and B risk bands over the past 7 days, and with 1% cashback** available on certain loan requests, it’s an exciting time to lend.

New loans

There were 121 new business loans listed last week and there are currently 91 auctions on the marketplace.

The total value of the new listed loans was £6,859,760; that’s an average of £56,692 per loan. The largest loan value was £156,260 and the smallest loan value was £10,000.

Business loans still available for bidding on for the next 3 days or more:

News you should know about

A great budget for peer-to-peer lending

In the March 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.

Community Forum

The forum was down last week for maintenance but it is back up and running and it has a new look too. Start talking to others on our community forum.

Loans defaulted last week

Printers and designers. Loan ID 2222

This business designs and prints marketing materials and has fallen into arrears with repayments. The original loan amount was £25,000 and all 379 investors have been notified.

Paint supplier. Loan ID 466

This South Shields business has been trading since 1974 and has fallen into arrears. The original loan amount was £50,000 and all 479 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 successful interest rate bids on all loans accepted between 25/03/2014 and 31/03/2014. See our statistics page for the latest accepted rates.

**Terms & conditions apply.

Investment through Funding Circle involves lending to small and medium sized businesses, so your investment can go down as well as up. Remember, past returns are not necessarily a guide to future returns.

Jack Pritchett

Senior Communications Manager