How our collections process works | Weekly Lending Review
Week 22: 25 – 29 May 2015
Read more about loan comments and how the collections process works on the blog.
New loans available to you
There are currently 63 loan requests on the marketplace which are all available for you to lend to.
As part of lending to businesses, some may be unable to fully repay their loans, which is why we believe diversification is so important. We’ve created a short video which runs through the basics of diversification and how you can diversify at Funding Circle.
The total value of new loans listed on the Funding Circle marketplace was £8,242,180, averaging at £67,664 per loan. The largest loan value was £650,000 and the smallest loan value was £9,380.
Business loans still available for bidding on for the next 3 days or more:
- Property developer is looking for £430,000 to build 9 new homes in London
- Online skills training provider needs £75,000 to up-skill rural Indian doctors
- Headhunting company requires £256,720 to expand
- Aberdeen based plumbing business needs £103,100 for working capital
- Nursing home requires £140,640 to furnish 10 new bedrooms
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: 25-May represents the week of 25th – 29th 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 will 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
Outdoor clothing manufacturer. Loan 2224. Risk band C
This West Yorkshire business has been running since 2007, and has reneged on their payment plan.
Online bathroom retailer. Loan 1929. Risk band C
This London business was established in 2001, and has entered administration.
Bespoke metal fabrication services. Loan 7213. Risk band A
This Tyne and Wear business has been running since 2006, and has entered administration.
Organic vegetable wholesalers. Loan 537. Risk band A
This County Armagh business was incorporated in 2001, and is now 3 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