Funding Circle turns 5! | Weekly Lending Review

Week 35: 24 – 28 August 2015

In August 2010, the Funding Circle marketplace was launched by three university friends, Samir Desai, James Meekings and Andrew Mullinger. £50,000 was lent to small businesses in the UK during the first month.

Fast forward five years, and approximately £65 million, or $100 million, is being lent to small businesses in the UK and the US every month. We’ve come a long way in the past five years, and it’s all thanks to your lending and continued support! Read some of our highlights on the blog.

New loans available to you

There are currently 44 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 lending small amounts to lots of businesses is so important. In this short video you’ll learn the basics of diversification and find out how to diversify at Funding Circle.

The total value of new loans listed on the Funding Circle marketplace was £13,342,840 averaging at £84,160 per loan. The largest loan value was £370,000 and the smallest loan value was £5,000.

Business loans still available to bid on:

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: 24-Aug represents the week of 24th – 28th 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 (The calculation is AGY = (1 + (two week rolling weighted average rate/12))^12 – 1). You can view the latest gross interest rates accepted on the marketplace on our statistics page.

Weekly average gross yield (2 weeks rolling)

Yield

Number of loans, value of loans and amount lent are reported weekly.

Number of listed loans per week

Loans listed

Listed loan value per week

Loan value

Total amount lent

Amount lent

Loan parts available to buy from other investors

Loan parts

Loans defaulted last week

Civil engineers. Loan 2137. Risk band C

This Cheshire business was established in 2002 and is being placed in compulsory liquidation.

Magazine publisher. Loan 3523. Risk band C

This Shetland business was established in 2007 and the borrower has proposed a payment plan.

Digital marketing agency. Loan 5180. Risk band B

This Devon business has been running since 2005 and has been placed into liquidation.

Garden machinery supplier. Loan 9394. Risk band A

This Gloucestershire business was established in 2009 and is entering Creditors’ Voluntary Liquidation.

Mobile advisers. Loan 11419. Risk band B

This West Sussex business has been running since 2009 and has been placed into liquidation.

Our collections and recoveries team are working to recover the outstanding amounts for all of these loans and they will provide you with updates in the loan comments section on your summary page. Read how our collections and recoveries process works on our blog.

Enjoy lending, The Funding Circle Team

Rob McCorquodale