You’ve helped lend £10.5 million to businesses | Weekly Lending Review
Week 23: 1 – 5 June 2015
Last week Funding Circle investors lent more than £10.5 million to businesses across the UK. The majority of businesses looking for funding were in the property and construction sector and the most popular reason for needing funding was to expand.
New loans available to you
There are currently 65 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 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 £11,107,040, averaging at £94,152 per loan. The largest loan value was £630,000 and the smallest loan value was £8,000.
Business loans still available for bidding on for the next 3 days or more:
- Essex-based catering butcher needs £31,260 to expand
- Golf club and lodge resort requires £156,260 to invest in new luxury lodges
- Oak furniture manufacturer is looking for £104,500 to fund bulk purchases
- Award-winning heritage construction firm needs £152,360 to purchase new equipment
- Medical communications consultancy is looking for £83,340 to employ more staff
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: 1-June represents the week of 1st – 5th June 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
News you should know
Spartan Motor Factors is the fastest growing vehicle parts supplier in South Wales, with branches in Newport, Cardiff and Bridgend. They are dedicated to providing high quality vehicle parts at competitive prices to local garages. We met director Jason Farrugia who told us why he started the company and how his Funding Circle business loan has helped his company. Hear Jason’s Funding Circle story on the blog.
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
Nail and beauty products supplier. Loan 5917. Risk band C
This Tyne and Wear company was incorporated in 1998 and is now 3 months in arrears.
Industrial pipework specialists. Loan 7743. Risk band A
This Carlisle business has been running since 2010 and has entered liquidation
Engineering inspection services. Loan 9588. Risk band C-
This South Yorkshire business was established in 2007 and has entered voluntary liquidation.
Domiciliary care services. Loan 4117. Risk band A
This Milton Keynes business has been running since 2003 and is proposing a company voluntary arrangement.
Safety consultants. Loan 3931. Risk band C-
This Manchester business was incorporated in 2001 and is proposing an individual voluntary arrangement.
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