Using Autobid? | Weekly Lending Review
Week 37: 7- 11 September 2015
Last week more than £9 million made its way to businesses across the UK, thanks to your lending. Of the new loans listed on the marketplace last week, London and the South-East were the most popular business locations.
News you should know: moving to fixed interest rates
Over the next few weeks there will be changes to how the marketplace operates, and to the way Autobid works.
Autobid will automatically lend at the new fixed interest rates for all new loans listed on the marketplace, and the interest rates you currently have saved in your Autobid settings will only apply for buying loan parts on the secondary market.
For more information about this please see our fixed rate page, or give our customer relations team a call on 0800 840 4075.
Site downtime this weekend
The site will be unavailable for approximately 12 hours overnight this Saturday, starting at 7pm. Everything should be up and running again by 7am Sunday.
New loans available to you
There are currently 49 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 £12,560,020, averaging at £80,000 per loan. The largest loan value was £400,000 and the smallest loan value was £5,000.
Business loans still available to bid on:
- Jewellery shop needs a £260,000 loan to prepare for Christmas
- Developers are looking for £400,000 to help complete a Norwich refurbishment
- £300,000 loan to develop 6 family homes in Middlesbrough
- Homeware and furnishings provider is looking for a £110,000 loan
- London law firm requires a £52,000 loan
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: 7-Sept represents the week of 7th – 11th September 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)
Number of loans, value of loans and amount lent are reported weekly.
Number of listed loans per week
Listed loan value per week
Loans defaulted last week
Retailer. Loans 2027, 3869, 7381. Risk band B
This fruit and vegetable retailer was established more than 20 years ago and entered administration in August.
Vehicle retailer. Loan 6910. Risk band A
This Warwickshire business has been running since 1995 and has entered liquidation.
Digital media company. Loan 1913. Risk band C
This Manchester business has been running since 2008 and has entered liquidation.
Retailer. Loans 1399, 4683, 6670. Risk band A+.
This London business was established in 2000 and has entered administration.
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 (part one and part two) on our blog.
The Funding Circle Team