Over £7m in new loans and our latest success story. Weekly Lending Review

Week 34: 18 – 24 August 2014

Last week we saw over £7 million of new lending opportunities come to the marketplace; including over £1.1 million in property development loans. They are located in Oxfordshire, North London, and West London.

The majority of new loans were allocated to the A risk band, with manufacturing and property & construction the 2 most common industries.

New loans

There were 92 new business loans listed last week and there are currently 52 auctions on the marketplace.

The total value of the new listed loans was £7,163,280; that’s an average of £77,862 per loan. The largest loan value was £550,000 and the smallest loan value was £8,340.

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: 18-Aug represents the week of 18th – 24th August.

Weekly average gross yield (2 weeks rolling)

yield

Number of listed loans per week

number

Listed loan value per week

value

News you should know

Did you lend to this business?

This month we went to Birmingham to visit Street Advertising Services, a Funding Circle borrower. They are the innovative advertising team behind the world’s biggest shave campaign; featuring Roger Federer. In this short video, you’ll meet Kristian, the founder, and see clips of some of the artwork they have created.

Would you like to meet businesses?

We’re really keen to open our business visits up to investors, so you too have the chance to see how your money makes a difference. We’ll be sending out emails to investors of upcoming case studies, so if you’re interested in attending, make sure you check your emails!

Last few days to share £100 with a friend!

If you recommend a friend to Funding Circle before 1st September and they lend at least £1,000 to businesses by the end of the offer period, you could each have £50 cashback* paid into your Funding Circle accounts. There’s only a few days to go to recommend a friend, so make sure you don’t miss out.

Loans defaulted last week

Printing business. Loan ID 3607

This Wakefield business has been trading since 1996 and is in liquidation. The original loan amount was £105,000 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