Meet David, who 1,277 of you helped last year. Weekly Lending Review

Week 32: 4 – 10 August 2014

It was another good week for listings as nearly 100 new businesses came to the marketplace, with the A+, A and B risk bands sharing a similar volume of loans.

A £400,000 loan for a property developer is closing in the next few days. It will be used to convert flats in a central London location into one family-sized home, and is A+ rated at a fixed rate of 8%. It is first bid, first served, so place your bids before it’s too late!

New loans

There were 96 new business loans listed last week and there are currently 61 auctions on the marketplace.

The total value of the new listed loans was £6,135,460; that’s an average of £63,911 per loan. The largest loan value was £581,000 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: 4-Aug represents the week of 4th – 10th 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

Digging into the data: Collections and recoveries

We’re starting a series which will look at the data behind Funding Circle and the first post examines the decline in late payments by businesses and the increase in the amount of money recovered for investors when they experience a bad debt.

Meet David, a business owner you’ve helped

We visited David Potter, director of Ambic, who borrowed £100,000 from 1,277 investors last year. He set up his furniture business over 30 years ago and it is still going strong. You can find out what they did with their loan in this short video.

Share £100 with a friend!

If you recommend a friend to Funding Circle 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 3 weeks to go to recommend a friend to Funding Circle, so make sure you don’t miss out.

Loans defaulted last week

Electrical contractor. Loan ID 5864

This Southampton business has been trading since 2007 and has experienced a change in circumstances. The original loan amount was £75,000 and all affected investors have been notified.

Furniture retailer. Loan ID 4705

This Chesterfield business has been trading since 2008 and is in arrears with repayments. The original loan amount was £20,000 and all affected investors have been notified.

Poultry business. Loan ID 1963

This equipment supplier has been trading since 2009 and is in liquidation. The original loan amount was £26,500 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