Partnering with Santander. Weekly Lending Review

Week 25: 16 – 22 June 2014

Over £5 million of new lending opportunities came onto the marketplace last week, including 14 loans for £100,000 or more, and a further 14 over £60,000. The purpose of loans listed was predominantly working capital (46) or expansion and growth (35). A property development loan for £322,000 is currently on the marketplace and still available to bid on.

New loans

There were 97 new business loans listed last week and there are currently 76 auctions on the marketplace.

The total value of the new listed loans was £5,056,860; that’s an average of £52,132 per loan. The largest loan value was £322,000 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: 16-Jun represents the week of 16th – 22nd June.

Weekly average gross yield (2 weeks rolling)

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Number of listed loans per week

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Listed loan value per week

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News you should know

We’ve partnered with Santander

Last week we announced an exciting new partnership with Santander UK, which will give thousands of small British businesses greater access to finance. The referral arrangement will see Santander proactively refer small business customers looking for a loan to Funding Circle, where we are better placed to help. This is the first partnership between a UK bank and an online finance provider, and forms part of our commitment to address the challenges of access to finance for creditworthy small businesses.

Investor evening video

Thank you to all who attended our first investor evening held at the end of May. We’ve produced a short video summary which you can take a look at here. For a full write-up, check out the blog.

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 our new partnership with Santander. You can join the discussion on our community forum.

Loans defaulted last week

Bus station cafe. Loan ID 252 & 1041

This Yorkshire business has been trading for 11 years and has fallen behind on its repayments in 2014. The original loan amount was £20,000 and 14,000 and all 366 investors have been notified.

Independent travel agent. Loan ID 2179

This business in Middlesex has been trading for 7 years and and has fallen behind on its repayments in 2014. The original loan amount was £15,000 and all 257 investors have been notified.

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

Enjoy lending, The Funding Circle Team

Natasha

Head of Corporate Communications