Updates to the T&Cs. Weekly Lending Review
Week 39: 22 – 28 September 2014
Close to £8.5 million of business loans were listed on the marketplace last week, including four loans to be used for property developments. The South-East was the most popular location for businesses, with the majority looking for capital to expand.
There were 123 new business loans listed last week and there are currently 59 auctions on the marketplace.
The total value of the new listed loans was £8,496,220 that’s an average of £69,075 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:
- Machinery supplier needs a £134,420 loan
- Nursery provider is looking for an £65,000 loan
- Wholesaler requires a £200,000 loan
- Book retailer is looking for a £120,000 loan
- Restaurant needs a £50,000 loan for refurbishment
- Property managers require a £52,100 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: 22-Sep represents the week of 22nd – 28th September.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
A small change to our T&Cs
We’ve added a new clause into our investor T&Cs to clarify how we hold money on your behalf, to confirm that we will provide annual statements in respect of money held for you and that no interest is paid on balances held. We’re not changing any of our practices, but regulation now requires us to provide this information.
We won 3 awards!
We’re really pleased to have been named winners of 3 awards over the past week:
We are AltFi’s “P2P Business Platform of the Year,” we also won their award for “Best Clarity of Data for Investors”, and we were awarded the London Loves Excellence award in financial services.
No loans were defaulted last week
Enjoy lending, The Funding Circle Team