Fixed interest rate roundup and an interview with a borrower in The Times | Weekly Lending Review
Week 41: 5 – 9 October 2015
Fixed interest rates have been on the marketplace for just over two weeks since launching on Monday 28th September, so we wanted to share some initial insights into the trends we’re seeing on the marketplace which you can read about on the blog.
New loans available to you
The total value of new loans listed on the Funding Circle marketplace was £12,277,540 averaging at £75,704 per loan. The largest loan value was £415,000 and the smallest loan value was £5,160.
Business loans available to bid on:
- Property developer is looking for £400,000 to build 4 new flats in London
- Family-run farm in Derbyshire needs £156,260 to build a free range hen unit
- Bicycle manufacturer requires £100,000 to bring in new products for 2016
Loan parts available for you to buy:
- Jewellery shop is looking to increase stock for Christmas. Gross interest rates from 6.2 – 9.1%
- Golf Club in Lincolnshire is developing 50 luxury lodges. Gross interest rates from 9.0 – 10.0%
- Waste disposal company is developing into renewable energy opportunities. Gross interest rates 10.5 – 13.4%
Your actual return may be higher or lower as by lending to businesses, your capital is at risk.
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: 5-Oct represents the week of 5th – 9th October 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
Total amount lent
Loan parts available to buy from other investors
News you should know
September industry news
The Times interviewed borrower Verto Homes, who are building 21 environmentally friendly family homes in Cornwall, and Funding Circle was ranked No. 1 in Business Insider’s 17 hottest fintech companies in Britain. Read our roundup of last month’s industry news on the blog.
Things we’re talking about
Trick or Treat?
Halloween’s approaching, but don’t be afraid. We’ve put together a list of ideas to make sure your friends and family have a frighteningly good time. Pick your poison on the blog.
Loans defaulted last week
Home insulation specialists. Loan 10851. Risk band A+
This Manchester business has been running since 2003 and is looking to be placed into creditors voluntary liquidation.
Food wholesaler. Loan 1368. Risk band A
This London business was established in 2006 and the borrower has become unresponsive.
Bus service operator. Loan 11003. Risk band D
This Glasgow business has been running since 2010 and ceased trading on 26 July 2015.
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 more about how our collections and recoveries process works on our blog.
Enjoy lending, The Funding Circle Team