Connecting you with more businesses you’ve lent to. Weekly Lending Review
Week 6: 2 – 8 February 2015
It’s been a fantastic start to February as you helped lend more than £9.4 million to UK businesses last week.
Of the new loans that were listed on the marketplace, construction was the most common sector and expansion was the most popular reason for needing funding.
New loans available to you
There are currently 84 loan requests on the marketplace which are all available for you to lend to.
The total value of new Funding Circle loans was £12,093,060 averaging at £64,324 per loan. The largest loan value was £300,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Supplier of synthetic sports surfaces needs £70,000
- Sports merchandise company is looking for a £30,000 loan
- Family-run jewellers requires a £50,000 loan
- Family-run garage needs a £50,000 loan
- Swimming and leisure business is looking for a £259,640 loan
- Long established construction company requires a £104,180 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: 2-Feb represents the week of 2nd – 8th February 2015.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
30% busier because of your lending
For our first business trip of 2015 we went to Bath to visit Elizabeth Season, co-owner of the Bath franchise of Neal’s Yard Remedies. Anne, who lent to the business alongside 900 other people, came along too. They borrowed £100,000 last year to refurbish their new shop.
News you should know
No update to minimum bid rates for March
Minimum bid rates will remain at their current levels for March:
We’re here to answer the questions you have
Join us on the forum this week to ask your tech and website related questions. We’ll have David T, our VP of Engineering answering them this week.
Loans defaulted last week
Healthcare provider. Loan 6251
This directors of this London business are entering bankruptcy and they are in arrears with their repayments. All affected investors have been notified.
Agricultural supplier. Loan 3276
This Pembrokeshire business has been trading since 2000 and is in arrears. All affected investors have been notified.
IT consultancy. Loan 3409
This London business has been trading since 2009 and the borrower is proposing a CVA (Company Voluntary Arrangement). All affected investors have been notified.
Catering equipment supplier. Loan 2667
This Essex business has been trading since 2010 and is in administration. All affected investors have been notified.
Construction contractor. Loan 1849
This Hampshire business has been trading since 2008 and is in administration. All affected investors have been notified.
Transport company. Loan 1415
This Chipping Norton business has been trading since 2002 and is in arrears with their repayments. 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