A record-breaking month for lending. Weekly Lending Review
Week 31: 28 July – 3 August 2014
Last month, Funding Circle investors lent a massive £21.9 million to 362 businesses across the UK, outdoing the previous record by over £1.5 million. Thank you to all who helped these businesses, we’ll have more case studies on the way soon!
There were 98 new business loans listed last week and there are currently 61 auctions on the marketplace.
The total value of the new listed loans was £6,884,340; that’s an average of £70,248 per loan. The largest loan value was £450,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Aluminium tool manufacturer is looking for a £40,120 loan
- Restaurant operator requires a £62,500 loan
- Air-conditioning company needs a £150,000 loan
- Family-owned country house hotel needs a £125,000 loan
- Letting business is looking for a £78,140 loan
- Property developers in Ealing need a £450,000 loan
- Food kiosk requires 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: 28-Jul represents the week of 28th July – 3rd August.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
The loan book is now available to download from our statistics page. Included are details such as the risk band and sector of the business, and whether the loan was initially offered as a whole loan (WL) or went to auction on the marketplace as a partial loan. We’re committed to providing you with as much data as possible which is why we’ll be adding financial information, accurate to the nearest £10, to the loan book in the next version.
Summer special: 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 4 weeks to go to recommend a friend to Funding Circle, so make sure you don’t miss out.
Loans defaulted last week
Coach operator. Loan ID 5309
This coach business has been trading since 1928 and is now in administration. The original loan amount was £100,000 and all affected investors have been notified.
Ready meals producer. Loan ID 1348
This Birmingham business has been trading since 1998 and is in arrears with 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