You’re breaking records. Weekly Lending Review

Week 36: 1 – 7 September 2014

It was another busy week at Funding Circle as we welcomed 100 businesses to the marketplace, most of which were allocated to the A risk band. It was also a record week for lending as £6.5 million made its way to businesses across the UK, thanks to you.

The North East & West had the most businesses listed and the most common reason for needing a loan was expansion.

New loans

There were 100 new business loans listed last week and there are currently 48 auctions on the marketplace.

The total value of the new listed loans was £7,289,940; that’s an average of £72,899 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:

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: 1-Sep represents the week of 1st – 7th September.

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

Vote for us in the People’s Choice Awards!

We’re up for nomination for AltFis’ People’s Choice Award. We would really appreciate your vote, so if you have a minute, vote for us here.

Loans defaulted last week

Law firm. Loan ID 4338

This Solihull law firm has been trading since 2010, and has fallen behind with their repayments. The original loan amount was £100,000 and all 1,203 investors have been notified.

Plastering contractor. Loan ID 5955

This Wigan business was incorporated in 2002 and we have received notice of a change in business circumstances. The original loan amount was £15,000 and all 193 investors have been notified.

Construction company. Loan ID 4311

This Bristol business has been trading for over 10 years and we have received notice of a meeting of creditors. The original loan amount was £70,000 and all 864 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

 

Jack Pritchett

Senior Communications Manager