Record day for new loans. Weekly Lending Review
Week 26: 23 – 29 June 2014
Last Thursday we listed over £2.2 million of new lending opportunities, beating our previous daily record by over £300,000. As a result of all of your lending, we were also thrilled to pass the £300 million lent milestone last week.
There are currently 2 loan requests on the marketplace which have 2% cashback* on them and are still available to bid on. One is a property investment loan for £520,000 and one is a second tranche loan for a property development.
There were 88 new business loans listed last week and there are currently 60 auctions on the marketplace.
The total value of the new listed loans was £5,270,180; that’s an average of £64,270 per loan. The largest business loan value was £520,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Family-run property company is looking for a £100,000 loan
- Maintenance company requires a £100,000 loan
- Oxfordshire nursery needs a £40,000 loan
- Garden product designer is looking for a £20,000 loan
- Online lighting products retailer requires a £100,000 loan
- Property company in Wiltshire needs a £522,000 loan
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: 23-Jun represents the week of 23rd – 29th June.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
£300 million lent
In just under 4 years, investors have reached a major milestone having lent more than £300 million to over 5,000 businesses; with £100 million of this lent in the last 6 months alone.
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!
Loans defaulted last week
Software solutions company. Loan IDs 494, 1324, 3058
This Staffordshire business has been trading since 2001 and has entered into insolvent voluntary liquidation. All 804 investors have been notified.
Consultancy firm. Loan ID 1630
This London business has been trading since 1991 and has entered into administration. The original loan amount was £65,000 and 711 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