Over £1m of loans with 2% cashback. Weekly Lending Review

Week 29: 14 – 27 July 2014

Last week we saw over 90 new lending opportunities come to the marketplace, including an A+ property loan for a development in Plymouth. It is nearly 90% funded with 3 days to go and has a fixed rate of 7.5%. A £400,000 fixed rate loan for a central London property development is also nearly funded. Both loans have 2% cashback* available for every successful bid, so get bidding before it’s too late!

New loans

There were 94 new business loans listed last week and there are currently 61 auctions on the marketplace.

The total value of the new listed loans was £5,036,120; that’s an average of £53,576 per loan. The largest loan value was £400,000 and the smallest loan value was £6,000.

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: 21-Jul represents the week of 21st – 27th July.

Weekly average gross yield (2 weeks rolling)

yield

Number of listed loans per week

number

Listed loan value per week

value

Summer special: share £100 with a friend!

If you recommend a friend to Funding Circle and they lend at least £1,000 to businesses, you could each have £50 cashback* paid into your Funding Circle accounts.

Marketing tips from a Funding Circle borrower

We’re starting a new Marketing Tips series in partnership with Cognition Agency, which we hope will help businesses grow and provide investors with interesting material they can read and share. The first in the series is 5 trade secrets to improve email marketing.

Loans defaulted last week

Electrical business. Loan ID 1945

This Hertfordshire business has been trading since 1987 and is now in administration. The original loan amount was £100,000 and all affected investors have been notified.

Scaffolding business. Loan ID 3964

This Walsall business has been trading since 2008 and is in arrears with their repayments. The original loan amount was £50,000 and all affected 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

 

*Terms and conditions apply.

 

Jack Pritchett

Senior Communications Manager