Loans of £600k and your latest business video. Weekly Lending Review

Week 29: 7 – 13 July 2014

Last week was one of the best weeks for listings, as over £6.7 million of loans were available for you to lend to. We also announced that we have raised further funding to help improve your Funding Circle experience.

There are 2 loans on the marketplace with a value of £600,000 and above: both have a fixed rate of 7.5%, both are A+ risk bands and both have 2% cashback* on them. Place your bids quickly to take advantage of these loans!

New loans

There were 109 new business loans listed last week and there are currently 66 auctions on the marketplace.

The total value of the new listed loans was £6,770,600; that’s an average of £62,116 per loan. The largest loan value was £620,000 and the smallest loan value was £5,000.

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: 14-Jul represents the week of 14th – 20th July.

Weekly average gross yield (2 weeks rolling)

yield2

Number of listed loans per week

number

Listed loan value per week

value

We’ve raised $65m to help improve your Funding Circle experience

We’re delighted to announce that we have raised $65 million in equity funding, to improve our offering for both borrowers and investors. We’re also pleased to announce that Bob Steel, who is currently CEO of Perella Weinberg Partners, will join our board as a non-executive director.

Did you lend to fashionable polo retailer, Pampeano?

Earlier this year, Pampeano, a retailer of own-label polo equipment and handmade leather belts, took out a business loan from 415 people to help fund their growth. You can watch their story on our blog.

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.

Loans defaulted last week

Taxi company. Loan ID 1287

This Loughborough business has been trading since 2002 and has fallen into arrears. The original loan amount was £30,000 and all affected investors have been notified.

Animation business. Loan ID 3781

This Caernafon business has been trading since 1992 and has ceased trading. The original loan amount was £15,000 and all affected investors have been notified.

Welding business. Loan ID 2889

This Worcester business has been trading since 2010 and is in arrears with their repayments. The original loan amount was £20,500 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

 

One thought on “Loans of £600k and your latest business video. Weekly Lending Review

  1. Do FC see a correlation between the total value of loans on offer in a particular week and the average rate achieved by lenders, i.e. as the former goes up so does the latter ? Seems so to me and it’s good for us lenders, not so good for the borrowers. I’d assume you have to ramp up the number of lenders as FC gets more requests from firms (e.g. via the Santander route)

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