Record amount lent businesses. Weekly Lending Review
Week 37: 8 – 14 September 2014
A record £6.7 million was lent to businesses last week and there are currently 63 new businesses on the marketplace, available for you to lend to.
The South East & the North West were the two most popular locations for businesses and the most common sector was manufacturing.
There were 114 new business loans listed last week and there are currently 63 auctions on the marketplace.
The total value of the new listed loans was £7,324,260; that’s an average of £64,248 per loan. The largest loan value was £499,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Residential developers need a £380,000 loan for a development in Ealing
- Lighting and sound business requires a £35,000 loan
- Media company is looking for a £51,560 loan
- Private dental practice needs a £52,000 loan
- Home improvement company requires a £55,000 loan
- Security company is looking for a £75,000 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: 8-Sep represents the week of 8th – 14th September.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
No change to minimum bid rates for October
We review the minimum bid rates in the middle of every month to decide whether they should be changed or kept the same. This month, we have decided to keep minimum bid rates at their current levels:
Improvements to the borrower application process
Over the past month we’ve been reviewing our processes and will be making changes to the application requirements for businesses, which will lead to some changes on the loan description page. This will give more flexibility to our credit assessment team, and help bring you more businesses to lend to.
Loans defaulted last week
Training provider. Loan ID 1089
This Newcastle business has been trading since 1999, and has fallen behind with their repayments. The original loan amount was £20,600 and all 266 investors have been notified.
Training business. Loan ID 3848
This London-based training provider was incorporated in 2008 and has ceased training. The original loan amount was £80,000 and all 969 investors have been notified.
Consultancy service. Loan ID 3718
This Durham business was incorporated in 1994 and the business is now insolvent. The original loan amount was £100,000 and all 1,117 investors have been notified.
Accountancy firm. Loan ID 5802
This Bradford business was incorporated in 2012 and is in breach of our terms and conditions. The original loan amount was £60,000 and all 596 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