Marketplace lending in the UK breaks new record | Weekly Lending Review
Week 32: 3 – 7 August 2015
A record-breaking £500 million was lent to consumers and businesses through marketplaces like Funding Circle, from April to June 2015 for the first time in history. Here’s our round-up of last month’s industry news.
News you should know
We’re making some improvements to the marketplace; specifically how Autobid funds new loans. Until now, Autobid could fund up to half of each available loan at the minimum bid rate. As more money is being lent through Autobid than ever before, we’re increasing this so 65% of new loans can be funded by Autobid at the minimum rate. Should this change again in the future, we’ll let you know in the Weekly Lending Review. This update should not affect your lending experience, but if you have any questions about this please get in touch or visit our forum.
New loans available to you
There are currently 50 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 £13,119,840, averaging at £73,331 per loan. The largest loan value was £400,000 and the smallest loan value was £5,000.
Business loans still available for bidding on:
- Property developer needs £480,000 to build 3 new homes in Liverpool
- Physiotherapist in Kent is looking for £20,000 to expand
- Experienced builder needs £315,000 to build 9 flats in Leicester
- Communications agency requires £72,180 to hire more staff
- Established developer needs £410,000 to refurbish a family home in London
Weekly marketplace trends
These graphs show the most recent activity on the marketplace. The dates on the graph should be read as ‘week beginning’, for example: 3-Aug represents the week of 3rd – 7th August 2015.
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. You can view the latest gross interest rates accepted on the marketplace on our statistics page.
Weekly average gross yield (2 weeks rolling)
Number of loans, value of loans and amount lent are reported weekly.
Number of listed loans per week
Listed loan value per week
Total amount lent
Loan parts available to buy from other investors
Loans defaulted last week
Retail business. Loan 8268. Risk band C
This Manchester business was established in 2011 and has entered liquidation.
Courier company. Loan 5423. Risk band D
This Cheshire business was incorporated in 2007 and has been placed in administration.
Indian restaurant. Loan 1751. Risk band B
This Birmingham business has been running since 1998 and is 2 months in arrears.
Ecological consultants. Loan 3751. Risk band D
This Wiltshire business was established in 2010 and has entered liquidation.
All affected investors have been notified.
Our collections and recoveries team are working to recover the outstanding amounts for all of these loans. Read how our collections and recoveries process works on our blog.
Enjoy lending, The Funding Circle Team