Over £600 million lent through the marketplace | Weekly Lending Review
Week 16: 13 – 17 April 2015
This week we were delighted to hit the 10,000 loans to UK businesses milestone. We also passed £600 million lent through the Funding Circle marketplace since 2010!
You are now helping to lend more than £40 million a month to established small businesses, and the Funding Circle marketplace is currently one of the largest net lenders to small businesses in the UK. Since launch, your lending has created an estimated 24,000 jobs.
New loans available to you
There are currently 74 loan requests on the marketplace which are all available for you to lend to.
The total value of new Funding Circle loans was £6,280,940, averaging at £64,700 per loan. The largest loan value was £460,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Computer supplies company needs £100,000 to update their IT systems
- Jewellery workshop is looking for £62,500 to invest in growth
- Welsh generator company needs £12,000 to purchase a forklift truck
- Sports event management company is looking for £30,000 to expand
- Sussex based Property Company requires £565,000 to build homes
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, value of loans and amount lent are reported weekly. The dates on the graph should be read as ‘week beginning’, for example: 13-Apr represents the week of 13th – 17th April 2015.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Total amount lent
Loan parts available to buy from other investors
Providing more information around defaulted loans
If you have any defaulted loans you may have noticed that we now apply a RAG (Red, Amber, Green) rating system, also known as a Traffic Light system, in the Loan Comments on your dashboard. The purpose of the new system is to help you assess the quality of your defaulted loans, and your expected return over a certain period of time.
Loans defaulted last week
Rawdon Motors. Loan 3588. Risk band B
This Yorkshire business has been running since 2011, and has entered into an individual voluntary arrangement. All affected investors have been notified.
Open Business Services Limited. Loan 7915. Risk band C
This Middlesex business has been incorporated since 2012, and is late in its 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