How our collections process works | Weekly Lending Review

Week 22: 25 – 29 May 2015

Following our blog where we examined how our collections process works, we have put together a further post (part 2) which explains how and when we update you about loans which are late or defaulted.

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:

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)

Yield

Number of listed loans per week

Loans listed real

Listed loan value per week

Loan value

Total amount lent

Amount lent

Loan parts available to buy from other investors

Loan parts

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

 

Rob McCorquodale