What a month November was! Weekly Lending Review
Week 48: 24 – 30 November 2014
Last month you helped lend a record-breaking £35 million to hundreds of businesses across the UK, with £9.5 million lent last week alone.
The majority of businesses listed on the marketplace were located in the South East of England, and the most popular reason for needing funding last week was expansion.
There are currently 76 auctions on the marketplace which are all available for you to lend to.
The total value of the new listed loans was £12,074,060; averaging at £65,331 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:
- Storage company is looking for a £104,720 loan
- Developers are looking for a £200,000 loan for a Cornwall project
- Importer of garden products requires a £100,000 loan
- Retailers of display equipment need a £215,060 loan
- Data analysts are looking for a £50,000 loan
- Property company needs a £92,800 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: 24-Nov represents the week of 24th – 30th November.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Did you lend to this property developer?
Last month we visited Medina Capital Investments, a London-based property developer who has borrowed £640,000 through the marketplace since September. They are building 2 family homes with their Funding Circle loan and you can see the development site in this short video.
Reduction of cashback on property finance
Since launching our formalised property product in April, over £20 million of property finance has reached businesses across the UK so we will be reducing the cashback available on lending to property loans, initially from 2% to 1.5%. Remember, by lending to businesses your capital is at risk. Terms and conditions apply.
Join us on the forum
David, our VP of Engineering will be answering the technical questions you have on the forum this week.
Loans defaulted last week
Online retailer. Loan 5328
This Poole business has been trading since 2010 and is in liquidation. The original loan amount was £32,000 and all affected investors have been notified.
Retailer. Loan 3204
This Rugby business has been trading since 2009 and is in arrears with their repayments. The original loan amount was £20,000 and all affected investors have been notified.
Life insurers. Loan 5853
This Manchester business has been trading since 2010 and is in arrears with their loan. 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