August’s industry news. Weekly Lending Review
Week 35: 25 – 31 August 2014
Despite the short week, it was a great week for lending as £5.9 million made its way to businesses across the country, thanks to your lending.
We also saw 97 businesses come to the marketplace; resulting in £6 million of new lending opportunities. The majority of loans were allocated to the A risk band, and the most popular business region was the South East.
There were 97 new business loans listed last week and there are currently 64 auctions on the marketplace.
The total value of the new listed loans was £6,022,920; that’s an average of £62,092 per loan. The largest loan value was £206,200 and the smallest loan value was £8,340.
Business loans still available for bidding on for the next 3 days or more:
- Property developers need a loan for a Richmond development
- Physiotherapy business requires a £40,000 loan
- Manchester property company is looking for a £100,000 loan
- Drinks company needs a £15,640 loan
- London restaurant requires a £20,000 loan
- Sportswear business is looking for 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: 25-Aug represents the week of 25th – 31st August.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
We met Kevin, a Funding Circle investor, and Mike, a business owner
Last week we mentioned that we’d be inviting investors to meet some businesses they’ve lent to. The first trip was to Moo Free, a dairy-free chocolate manufacturer in Reading. We met Kevin, who’s been lending to businesses for 18 months, and Mike, who took out a business loan last year. Watch out for the video to come shortly!
Highlights from August’s P2P news, including the world’s largest P2P lender
In this month’s roundup we have reports of bank lending to businesses falling and news of Lending Club, the world’s largest P2P lender, announcing plans to file for IPO.
No loans were defaulted last week
Enjoy lending, The Funding Circle Team