Week 21: 18 – 22 May 2015
Back in 2013 The Flower Essence Repertoire took out a business loan so they could buy more raw materials to increase production. Based on the picturesque Isle of Gigha, in the Inner Hebrides, the business manufactures a range of flower essences, including orchid essences from orchids in their greenhouse, exporting them worldwide.
We visited founder, Don Dennis, to find out why he started the company. Read about Don’s Funding Circle experience on the blog.
New loans available to you
There are currently 53 loan requests on the marketplace which are all available for you to lend to.
The total value of new loans listed on the Funding Circle marketplace was £9,015,500, averaging at £79,470 per loan. The largest loan value was £500,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Family run transport company is looking for £106,400 to fit out warehouse
- Exterior cleaning company needs £35,000 to employ more staff
- Farm requires £122,240 to purchase a ground source heat pump system
- Tour catering company needs £26,060 to help with cashflow
- Cornish accountant is looking for £61,860 to expand
- Baby gifts manufacturer requires £50,000 to expand sales overseas
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: 18-May represents the week of 18th – 22nd May 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
Aquatic and pond suppliers. Loan 3401. Risk band B
This Essex business was established in 2011 and has agreed to nominal payments. All affected investors have been notified.
Master subcontractor. Loan 8316. Risk band C
This Essex business was incorporated in 2004, and has ceased trading. All affected investors have been notified.
Cake baking and decorating company. Loan 10357. Risk band B
This Lancashire business has been running since 2011, and has been unresponsive. All affected investors have been notified.
Cleaning product supplier. Loan 8122. Risk band B
This Bedfordshire business was established in 2003, and is now 4 months in arrears. All affected investors have been notified.
Our collections and recoveries team are working to recover the outstanding amounts for all of these loans. Read what happens during the recoveries process on our blog.
Enjoy lending, The Funding Circle Team