Refurbishing a restaurant thanks to 763 people. Weekly Lending Review

Week 21: 19 – 25 May 2014

Nearly £5 million was lent to businesses across the UK last week, including a property development loan in Kent, a soft drinks manufacturer in Bristol and an event solutions company in Cambridgeshire.

As well as this, we saw a further 73 businesses come onto the marketplace, which totalled £4.7 million of new lending opportunities.

New loans

There were 73 new business loans listed last week and there are currently 53 auctions on the marketplace.

The total value of the new listed loans was £4,654,180; that’s an average of £63,756 per loan. The largest loan value was £212,000 and the smallest loan value was £7,000.

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 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: 19-May represents the week of 19th – 25th May.

Weekly average gross yield (2 weeks rolling)

yield

Number of listed loans per week

number

Listed loan value per week

value

Did you help refurbish a second restaurant?

763 people lent to The Exhibition Rooms so they could refurbish and open their second neighbourhood restaurant in South London. View their business story in pictures here.

Recommend a friend and share £80

If you recommend a friend to Funding Circle and they lend at least £1,000 to businesses, you could each have £40 cashback* paid into your Funding Circle accounts!

Community Discussions

This week we’re talking about a London property development loan that was on the marketplace last week. You can join the discussion on our community forum.

Loans defaulted last week

Wholesale food distributor. Loan ID 1366

This Sussex business has been trading since 2002 and has fallen into arrears with repayments. The original loan amount was £45,000 and all 553 investors have been notified.

Furniture designer. Loan ID 904

This business has been trading since 2005 and we have received notice of a change in the director’s circumstances. The original loan amount was £40,000 and all 316 investors have been notified.

Our collections and recoveries team are working to recover the outstanding amounts for both of these loans.

Enjoy lending, The Funding Circle Team

* 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