A record week for loan requests! Weekly Lending Review
Week 24: 9 – 15 June 2014
It was a record-breaking week last week as over £7.5 million of new lending opportunities came onto the marketplace. Included in last week’s bumper week for listings were 23 loans valued at £100,000 and above and our largest loan to date. This £650,000 loan is currently on the marketplace and is still available to bid on.
There were 115 new business loans listed last week and there are currently 76 auctions on the marketplace.
The total value of the new listed loans was £7,548,380; that’s an average of £65,638 per loan. The largest loan value was £650,000 and the smallest loan value was £10,000.
Business loans still available for bidding on for the next 3 days or more:
- Bus and coach operator is looking for £250,000
- Business advisors are looking for a £100,000 loan
- Event management company is looking for an £80,000 loan
- Direct mail provider requires a £50,000 loan
- Gaming equipment provider needs a £22,000 loan
- Consultancy firm is looking for a £50,000 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: 9-Jun represents the week of 9th – 15th June.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
Bringing more businesses to the marketplace
Over the past few months we have become conscious that a one size fits all approach to borrower requirements will not always work, so we are removing the £150k threshold for loans without asset security. Our credit team will now have more flexibility to assess the security required on a case by case basis.
May’s roundup of peer-to-peer industry news
In last month’s roundup we have the Queen’s Speech, the launch of a global investment fund and figures showing another decline in bank lending to businesses.
Thank you to all who attended our first investor evening held at the end of May. We’ve now completed our write-up of the event so you can read what the collections and tech teams had to say, and what was discussed in the Q&A session with 2 of the co-founders.
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
Document collection service. Loan ID 2855
This Blackburn business has been trading since 2005 and has entered into administration. The original loan amount was £150,000 and all 1,994 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