Whole loans trial and 51 new listings
Week 17: 21 – 27 April 2014
Over £3 million made its way to businesses across the UK last week and we saw 51 new lending opportunities listed on the marketplace, including thirteen loans for over £100,000. Nearly half (24) of the new loans were for working capital and just under a third (18) were for expansion and growth. This week the Midlands saw the most businesses listed.
There were 51 new business loans listed last week and there are currently 41 auctions on the marketplace.
The total value of the new listed loans was £3,108,000; that’s an average of £60,941 per loan. The largest loan value was £150,000 and the smallest loan value was £10,000.
Business loans still available for bidding on for the next 3 days or more:
- A pilates studio is looking for £20,000
- 3D technology business requires a £150,000 loan
- A farm in the North West needs a £50,000 loan
- Scottish engineering business needs £100,000
- A wholesale & catering butcher is looking for £150,000
- Fine jewellery manufacturer & retailer requires £150,000
- A recruitment firm in the care sector needs £15,000
- Steel fabricators & security fencing contractors need £45,500
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 of gross yields. This calculation assumes you reinvest your interest each month and therefore includes the compound interest you earn. Number of loans and value of loans are reported weekly. The dates on the graph should be read as ‘week beginning’, for example: 21-Apr represents the week of 21st – 27th April.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know about
Whole loans trial from 1 May
We announced last week that we will be trialling listing whole loans to help us to continue to grow and become a significant part of the small business lending market. You can read more on our blog and FAQs as well as join the discussion on our forum.
Loans defaulted last week
Portable water provider. Loan ID 2612
This business has been going for nine years but we understand the borrower discovered some financial anomalies created by certain employees shortly after taking the loan. This resulted in the borrower having to pay a number of invoices which it could not afford due to the seasonality of the business. The business has entered into administration in order to precipitate a sale to a third party.The original loan amount was £100,000 and all 1490 investors have been notified.
Our collections and recoveries team are working to recover the outstanding amounts for this loan.
Enjoy lending, The Funding Circle Team
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.