Update to our whole loans trial. Weekly Lending Review
Week 22: 26 May – 1 June 2014
It was a very busy week at Funding Circle as we saw 58 business loans come onto the marketplace in four days, as well as hosting our very first investor evening at our office. Further details of the event will be on the blog later this week.
There were 58 new business loans listed last week and there are currently 52 auctions on the marketplace.
The total value of the new listed loans was £3,286,000; that’s an average of £56,655 per loan. The largest loan value was £250,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Antiques retailer is looking for a £25,020 loan
- Water treatment provider requires a £30,000 loan
- Timber merchants are looking for a £50,000 loan
- Established hair & beauty business needs a £100,000 loan
- Guitar retailer requires a £20,000 loan
- Waste management company seeks a £150,000 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: 26-May represents the week of 26th May – 1st June.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Update on whole loans trial
We are continuing with the trial for another few weeks, and we expect a full roll-out to all investors to take place within the next month.
Small changes to the Borrower T&Cs
We’ve made some changes to the ‘How to become a borrower’ section to reflect our current policies for business who apply for funding. Specifically, (i) amends to the wording to include property development and property investment businesses and (ii) in view of the growing marketplace and size of businesses applying for loans, we need greater flexibility surrounding County Court Judgements. If the overall assessment of the business allows, we will consider listing businesses which have in excess of £250 in CCJs.
Our first investor evening
Thank you to all who attended our first investor evening held at our London office. Later this week we’ll be posting a write up of the evening on our blog, so you can find out about how it all went.
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
Vehicle repair centre. Loan ID 1143
This Milton Keynes business has been trading since 1996 and has entered into administration. The original loan amount was £50,000 and all 457 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
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.