We’ve hit £1 billion!

And you’ve helped us reach this milestone. Thank you!

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The Funding Circle marketplace has reached a major milestone: lending £1 billion directly to small businesses in the UK.

More than half of this money was lent through the marketplace in 2015 alone, and you and other investors are on track to lend a further billion pounds within the next 12 months.

Lending directly to businesses on the marketplace means businesses can access finance which is fast, fair and fundamentally more efficient than alternatives. 

Reaching £1 billion is a fantastic achievement and this lending has resulted in an estimated 46,000 new jobs*. This is testament to the significant impact you and other investors at Funding Circle are having on UK economic growth.

Click here for more details about what £1 billion means. 

1 billion image

 

 

The Funding Circle team.

 

Independent research by government think tank, Nesta, found that an average business borrowing through Funding Circle employs ~10 people and increases headcount by ~30% within 12 months of taking a loan. Nesta, Banking on Each Other, 2013.

The final Weekly Lending Review of 2015. Merry Christmas!

Week 51: 14 – 18 December 2015

There’s only a few days left until Christmas and we’ve been busy making sure there are a number of lending opportunities available to you over the festive period. Funding Circle’s Global CEO Samir Desai also has a special message for investors in the final instalment of The Ultimate Christmas Gift Guide 2015.

This will be the last weekly lending review of 2015: we’ll be back in touch in the week commencing 4th January. We hope you all have a nice break!

New loans available to you

There are currently 36 loan requests on the marketplace, and thousands of loan parts available for you to buy.

The total value of new loans listed on the Funding Circle marketplace was £16,925,400 averaging at £71,363 per loan. The largest loan value was £450,000 and the smallest loan value was £5,000.

Business loans available to bid on:

Gross interest rates are before fees and bad debts. Your actual return may be higher or lower as 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: 14-Dec represents the week of 14th – 18th December 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)

WLR 51 yield

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

Number of listed loans per week

WLR 51 loans listed

Listed loan value per week

WLR 51 loan value

Total amount lent

WLR amount lent

Loan parts available to buy from other investors

Highlights from 2015

As 2015 draws to a close, we wanted to take a moment to share with you some of the highlights from this year. We teamed up with our colleagues in the US, Germany, Spain and the Netherlands to put together a short video. You’ll meet members of the Funding Circle team, watch some of our favourite borrowers from the year, and hopefully get a sense of how you’re helping businesses access the finance they need to grow.

New forum

To start the new year in style we’ll be moving to a new forum. We’ll provide further information in due course.

Loans defaulted last week

Equestrian centre. Loan 8141. Risk band A+

This Cornwall business has been struggling to make repayments since September 2015.

Web development company. Loan 2783. Risk band A+

This Manchester business has been running since 2007 and is looking to enter insolvent liquidation.

Electrical installation specialists. Loan 2214. Risk band C

This Yorkshire business was established in 2002 and is being placed in creditors’ voluntary liquidation.

Garage. Loan 6875. Risk band B

This West Sussex business has been running since 2004 and has been placed in creditors’ voluntary liquidation.

Commercial movers. Loan 15118. Risk band C

This Cambridgeshire business was established in 2007 and has been placed in creditors’ voluntary liquidation.

Online furniture shop. Loan 3328. Risk band C

This Northamptonshire business has been running since 2004 and has been placed in creditors’ voluntary liquidation.

Digital agency. Loan 12302. Risk band C

This Suffolk business was established in 2013 and is proposing a company voluntary arrangement.

Building maintenance company. Loan 14456. Risk band A

This West Sussex business has been running since 2010 and is looking to enter insolvent 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 more about how our collections and recoveries process works on our blog.

Enjoy lending, The Funding Circle Team

Highlights from 2015 – and what a year it’s been

As 2015 draws to a close, we look back at some of our highlights from the past 12 months. And what a year it’s been!

More than £500m lent in 2015

In January 2015 the marketplace passed £500 million lent to small businesses across the UK, and now we’re fast approaching the £1 billion milestone. This achievement would not have been possible without our investor and borrower communities, so we’d like to say a big thank you to all for your continued support!

Growing the UK marketplace

Our investor community has grown significantly with 45,275 investors now lending to businesses, including 19 local councils, financial organisations, Huddersfield University and the UK Government.

7,250 British businesses have borrowed through the marketplace in this year alone, bringing the total number of business loans to more than 15,000. We’ve been lucky enough to visit some of these borrowers to find out how your money has helped their businesses succeed. You can read their stories on the blog.

Launching in Europe

In October, we launched across Europe to help even more small businesses access finance, so we teamed up with our colleagues in the US, Germany, Spain and the Netherlands to put together a short video of our highlights.

You’ll meet members of the Funding Circle team in all geographies, hear from some of our favourite borrowers from the year and get a sense of how you’re helping the wider economy. 

2015 highlights video

We hope you all enjoy a break over the holiday period, with best wishes for the year ahead.
The Funding Circle team

The Ultimate Christmas Gift Guide (part 4)

During December, we’ve been showcasing the best marketplace gift ideas for friends and family, from seasonally striped gifts in part one, to stocking fillers and statement jewellery in part two, and shearling coats in part three.

The final instalment of The Ultimate Christmas Gift Guide 2015 includes adventure days, delightful everyday gifts from the US and a special Christmas message from Funding Circle’s Global CEO Samir Desai. Thank you for all your support in 2015, and we look forward to bringing you more lending opportunities in 2016.

We’ll continue to showcase each business on Funding Circle’s Twitter, LinkedIn, Facebook, Google+ and Instagram pages until Christmas Eve and would love for you to share the ones you like! #GiftGuide2015

Day 21 : Saber Powersports

Perfect for any thrill seeker, Saber Powersports in Southampton offer adventure experiences on their fleet of powerboats. Business owner Simeon Penn, who borrowed £20,000 in May 2013 to buy a new jet engine, has been racing powerboats for over 25 years. You’ll just need to decide between the Jet Viper, the 007 or the Thunderbolt. What fun!

Day 22 : Mill View Plant Centre

Mill View Plant Centre in Oxfordshire, which has been run by the Dallimore family for over 30 years, sells a range of plants, shrubs and hanging baskets to help spruce up your garden in 2016. Director Katie Cook, who borrowed £100,000 in November 2015 to open a new coffee shop, explains that their handmade wreaths are always best seller at Christmas.

Mill View Katie

Day 23 : Maika Goods, US

Looking for a new lunch bag for 2016? Maika Goods, based in San Francisco, make functional goods that are simple solutions for the everyday. Business owner Viola, who borrowed through the Funding Circle marketplace in the USA, says Maika Goods represent that leap of faith to always push the creative envelope.

Maika banner

Day 24 : Thank you

On Christmas Eve, we’d like to focus on all of the investors who have helped make 2015 such an exciting year, lending over £500 million to 7,000 businesses across the UK.

A Christmas message from Funding Circle’s Global CEO Samir Desai: ‘I’d like to wish all our investors a Merry Christmas and a Happy New Year. It’s been a pretty incredible year all round, but they’ll be many more exciting things to come next year.’

Are you interested in lending to UK businesses?

Support small businesses in the UK and you can earn a great return. It takes minutes to sign up online and you can use our investor information guide to help you get started. We have thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Looking for finance?

Looking for a business loan to help with seasonal demand? Check your eligibility online in just 30 seconds.

Colin shares his top 3 tips for growing a business

We caught up with Colin Dallimore, owner of the Mill View Plant Centre in Oxfordshire, who shared his top tips for running a small business.

Colin business owner Mill View Plant Centre

The plant centre, which was started by Colin’s mother over 30 years ago, sells a range of top quality plants and shrubs, including fruit trees and at this time of year Christmas trees too. Colin, who is passionate about his plants, told us ‘the highlight for me is the fact that my two daughters have joined me in the family firm, so it can continue on and on.’ The Mill View Plant Centre borrowed £100,000 through the Funding Circle marketplace in November 2015 to expand after spotting a gap in the market for a coffee shop.

In this short video you’ll meet Colin and find out why he thinks forward planning and attention to detail are particularly important to the success of his business.

Colin’s top tips are:

  • Learn to keep going
  • Keep your staff motivated
  • Always look to expand


If, like Colin, you’re looking for a business loan, you can check you qualify in just 30 seconds.

Apply online and a member of our team will get back to you within 2 working days.

We’ve helped more than 12,000 businesses in the UK and US access finance for a range of purposes, and you can read more stories like Colin’s here.

 

Handmade wreaths in time for Christmas, thanks to 1,171 investors | Weekly Lending Review

Week 50: 7 – 11 December 2015

Earlier this month we visited Mill View Plant Centre in Oxfordshire, who borrowed £100,000 through the Funding Circle marketplace in November 2015 to expand and open a coffee shop. The plant centre, which is run by Colin Dallimore and his daughters Katie and Lucy, stocks a large selection of Christmas trees and handmade wreaths. In our latest case study you can learn about the best type of Christmas tree for your home and Colin has some special words for all those people who lent to his business.

New loans available to you

There are currently 30 loan requests on the marketplace, and thousands of loan parts available for you to buy.

The total value of new loans listed on the Funding Circle marketplace was £16,867,860 averaging at £80,078 per loan. The largest loan value was £450,000 and the smallest loan value was £5,000.

Business loans available to bid on:

Gross interest rates are before fees and bad debts. Your actual return may be higher or lower as 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: 7-Dec represents the week of 7th – 11th December 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)

WLR 50 yield

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

Number of listed loans per week

WLR 50 listed loans

Listed loan value per week

WLR 50 loan value

Total amount lent

WLR 50 amount lent

Loan parts available to buy from other investors
WLR 50 loan parts

News you should know

New mobile iOS app is available to download

Christmas has come early for app users – the new investor mobile app for iOS 9 is now available to download from the App Store! Updated features include a fresh design and touch ID. Read more about the new app, including an interview with our mobile team, on the blog.

Loans defaulted last week

Insulation specialist. Loan 3306. Risk band A

This Glasgow business was established in 2004 and has been placed in compulsory liquidation.

Online bicycle shop. Loan 5356. Risk band D

This Wrexham business has been running since 2006 and has been placed into creditors’ voluntary liquidation.

Auditors. Loan 3236. Risk band B

This East Sussex business was established in 1999 and is looking to enter insolvent liquidation.

Law firm. Loan 1461. Risk band A

This Norfolk business has been running since 2010 and has missed promised payments.

Ambulance service. Loan 14550. Risk band A

This Kent business was established in 2007 and is entering insolvent liquidation.

Accountants. Loan 637. Risk band B

This Tyne and Wear business has been running since 2003 and has struggled to make repayments since July.

Solicitors. Loan 2799. Risk band A

This London business was established in 2007 and has become unresponsive.

Hair salon. Loan 5142. Risk band C

This London business has been running since 2007 and has been placed in liquidation.

Estate agent. Loan 5844. Risk band C

This Oxfordshire business was established in 2011 and has become unresponsive.

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

The Ultimate Christmas Gift Guide (part 3)

It’s beginning to look a lot like Christmas! Over the past two weeks we’ve been showcasing the best marketplace gift ideas for friends and family, from award-winning food and personalised Santa sacks in part one, to luxury leather belts and winter warmers from the US in part two.

We’re showcasing each business on Funding Circle’s Twitter, LinkedIn, Facebook, Google+ and Instagram pages and would love for you to share the ones you like! #GiftGuide2015

Day 14 : Owen Barry

Wrap up warm this Christmas with a hand-crafted shearling coat from Owen Barry, who have been manufacturing ethically sourced clothing and accessories in Somerset since 1948. Owen Barry borrowed £60,000 in May 2012 so they could move to a larger premises and cope with increasing demand.

Owen Barry banner

Day 15 : The Exhibition Rooms

Located in London? Why not eat out at The Exhibition Rooms this Christmas. Run by two friends, David Massey and Geoff Ridgeon, the restaurant has an excellent reputation on a number of restaurant review sites. In February 2014 they took out a £30,000 business loan to develop the restaurant site.

Day 16 : Omi’s Apfelstrudel, Netherlands

Drink Omi’s delicious Apfelstrudel warm, cold, or with a little dash of spirit! Omi’s Apfelstrudel, who borrowed through the Funding Circle marketplace in the Netherlands, presses delicious juice in Austria’s apple growing centre “Steiermark”.

Day 17 : Lakeland Picnic

Lakeland Picnic produce lamb, beef and pork & chorizo burgers in South Cumbria. The business was established in 2007, when owner Michelle Partington saw a gap in the market to provide better quality street food. She borrowed £17,000 in September 2013 to revamp her stall and received the money in less than 7 days. Lakeland Picnic cater for events throughout the North West and have a stall at the ‘Street Food’ market Piccadilly Gardens, Manchester, every Thursday, Friday and Saturday.

Lakeland Picnic banner

Day 18 : Ark Consultants

Looking for a New Year challenge? Lancashire-based business Ark Consultants arrange the Original Mountain Marathon series, a two day mountain marathon event, and design outdoor clothing and equipment under the OMM brand. They borrowed £80,000 in 2013 to expand the business internationally.

Day 19 : Bramley & Gage

Treat someone special to the Bramley & Gage 6 O’clock Gin and Tonic Gift Set this Christmas. The family-run business has been manufacturing award-winning fruit liqueurs and gin in Gloucestershire since 1988. Father and son team, Edward and Michael Kain took out a £25,000 business loan to buy a new gin still to help them increase production. 

Bramley Gage Gin banner

Day 20 : Hales Gallery

Want to fill your coffee table with modern art books? Look no further than Hales Gallery. Directors Paul Maslin and Paul Hedge have been dealing contemporary art since 1992, and helped launch the careers of a number of Young British Artists during the ’90s boom. They’ve now taken three loans through Funding Circle to ease working capital, borrowing £200,000 from over 3,000 investors across the UK.

Hales Gallery Banner

In next week’s list of marketplace gift ideas we’ll be showcasing delightful everyday goods and handmade wreaths. Find out more next Monday!

Thank you to all investors

Thousands of people and larger investors have lent over £980 million to 12,000 UK businesses through the Funding Circle marketplace since 2010. Thank you for all of your support in 2015, and we look forward to bringing you more lending opportunities in 2016.

Looking for finance?

Looking for a business loan to help with seasonal demand? Check your eligibility online in just 30 seconds.

Rockin’ around the Christmas tree: how 1,171 investors are helping an Oxfordshire family business expand

Earlier this month we visited Mill View Plant Centre in Oxfordshire, which has been run by the Dallimore family for over 30 years. Today, the plant centre is run by Colin Dallimore, who has a self-confessed passion for plants, and his daughters Katie and Lucy. They sell a range of plants and shrubs, including vegetable plants, herbs and fruit trees, and at this time of year Colin stocks a large selection of Christmas trees and handmade wreaths.

The premium Christmas trees are pot grown and cut, and range between 3 and 9 ft tall. Wondering which type of Christmas tree might be best for the office we asked Katie’s advice. She explained the ‘Norway Spruce has a lovely smell, but for lower needle drop if you’ve got small children like me, I’d go for the Nordmann Fir.’ The plant centre offer a wrap and carry service, and if you live in Wheatley or adjoining villages they’ll even deliver your tree for free!

Mill View Plant Centre Katie

Colin and his daughters needed funds quickly as they wanted to progress the family business and rebuild the nursery’s old shop. They also saw a gap in the market for a coffee shop to create a better experience for their customers. Mill View Plant Centre borrowed £100,000 through the Funding Circle marketplace in November 2015 to expand and open a coffee shop so their customers can meet friends and buy plants together.

In this short video you’ll hear from Colin and his daughter Katie. Colin also has some special words to say to all of the people who lent to his business:

Are you interested in lending to businesses like Colin’s?

Support small businesses in the UK and you can earn a great return. It takes minutes to sign up online and you can use our investor information guide to help you get started. We have thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Do you need a business loan?

More than 12,000 businesses in the UK have accessed finance from the marketplace, helping them with cashflow, refurbishment and much more. Check your eligibility online in just 30 seconds.

What a night! Introducer Christmas Drinks Round-up

Last week, we hosted the Funding Circle Introducer Christmas Drinks at our office in London. It was a jolly affair with guests trying their hand at ping pong and enjoying a festive feast of mini mince pies, pigs in blankets and delicious sausage rolls – but not necessarily in that order!

Thank you to all who came, it was a valuable forum for us and is something we’ll be looking to do again in the New Year as we appreciate London is not accessible for all.

The drinks were a great opportunity to welcome Luke Jooste into the introducer team. Luke joined Funding Circle in November 2013 to set up our property product, and the team has since originated over £120 million in property finance loans. Prior to this, Luke was UK Head of Property Finance for Barclays Business Bank. Asked why he moved into the marketplace lending industry Luke responded: ‘it’s probably the most exciting development in the UK financial sector at the moment.’ We’re delighted he’ll be working with the introducer team into the New Year.

On behalf of the team and everyone at Funding Circle, we’d like to thank you for your support throughout 2015, and we very much look forward to doing many more deals with you in 2016.

Find out more about how we can help your clients by visiting our website, or chat with our dedicated business development team on 020 3667 2208 or send us an email.

New mobile iOS app available to download today!

Two weeks ago, we revealed a new version of the investor mobile app was coming soon. Today, we’re excited to announce that it has been approved by the App Store, meaning you can download the new version right now! Visit App Store.

The new Funding Circle mobile app for iOS 9 has been completely redesigned for investors, so you can access your account information quickly and securely when you’re on the move. You’ll enjoy:

– a fresh, new design for the new larger screen resolutions

– shortcuts for watching and bidding on loans

– improved user experience

– Touch ID and passcode enabled to make it easier to login

– updates for fixed rate changes to the marketplace

Screenshots of the new iOS app

4-inch (iPhone 5) - Screenshot 14-inch (iPhone 5) - Screenshot 2

 

4-inch (iPhone 5) - Screenshot 44-inch (iPhone 5) - Screenshot 5

Q&A with the mobile team

Before its release, we interviewed the team who have been working on the app. In case you missed it, read what Emma, Edu, Dallas, Ben and Rory think about the new app and what they have planned next.

1) What’s your favourite thing about the new app?

Edu: I really like the way data has been exposed through the new version of the app. For example, on the summary page, it is great to be able to see how my funds are distributed across the three different stages: available, bidding, or lent to a business.

Emma: I love the folding headers, where the images blur as you scroll up the screen.

Dallas: Knowing that there is a well-engineered structure inside which is based on solid architectural principles. Having the lower layers of the app made correctly helps all the animations built on top perform much better, and will be easier to maintain in the future.

Ben: The little things that have a story behind why they were chosen – like the effort the team spent debating and researching whether there should be five or six numbers in the passcode, or the way the business information cell has a set height that entices you to read on.

2) What was the most difficult part of the project?

Emma: Adding transparency to the bottom navigation bar was tough. It’s actually one of Apple’s default settings, but the other styling we added changed the default behaviour and we had to change multiple views to bring it back.

Edu: I think the most difficult part was planning at the start of the project. We sat in a room with white paper in front of us in order to define what could be improved and how we were going to do it. We started thinking of the different reasons someone would open the Funding Circle app, what they would be looking for, and how we were solving it on the first version of the app. There were several iterations of design and user testings which allowed us to progress from a user flow on paper to the final design and implementation. This has been a huge effort across several teams, and I truly believe it was worth it in order to offer the best experience possible to our users.

Dallas: Ensuring that we are focussing on developing the right features for the user, based on real evidence and user testing.

Rory: Having fixed rates on the marketplace is changing the behaviour of our users. We will be keeping a close eye on how users interact with the new app and will work hard to roll out the new features you want much more regularly than we have done before.

Ben: I agree with Rory.  The most difficult part will be deciding what new features we should add next.

3) What would you like to develop in the next iterations?

Emma: I’d like to see us implementing autobid settings or a secondary market feature, as I feel that these are becoming more important parts of the investor experience.

Edu: We are going to continue to be really proactive in listening to feedback from our users and making changes according to their needs. There are other features that I would like to see introduced. For example, being able to subscribe to notifications whenever a loan request matching certain criteria is listed; bringing the secondary market into the app; and probably the most immediate one, updating the iPad app to the new version.

Dallas: Implement some of the new features Apple have included in iOS such as 3D touch for extra user actions, spotlight search, Apple watch app and/or contextual notifications. These would be features that would be interesting to work on but we would first need user testing/validation to ensure our users would actually find them useful.

Rory: iPad – so we can expand and iterate on top of our existing component library. Doing so will allow us in the future to roll out new features across the two platforms simultaneously.

Ben:  I’m really looking forward to finding new ways to provide the most important information for customers at the right time – maybe something that tells you what has changed in your account since you last looked at the app.

Thanks for your time everyone!

Interested in using the app?

If you’d like to use the iOS app you can download it for free from the App Store. For those who used the first version, we hope you’ll notice a real improvement in performance and usability. 

Enjoy lending,

The Funding Circle team

Picture story: festive fayre, thanks to over 4,000 investors

Effectual Ltd initially specialised in secure storage solutions at their warehouse in Essex. However, eleven years ago business owner Jimmy Holder expanded into selling merchandise which has now become a key part of the business.

Effectual’s latest project is The Lapland Sack Company, which was born when Jimmy’s sons suggested selling Christmas stock. Helped by his team of elves David, Bonnie and John, The Lapland Sack Company sell a range of Christmas goodies, from Stockings to Sweet Jars and Santa Sacks, online and at their dedicated stall at Winter Wonderland in Colchester. The luxury jute sacks can be printed while you wait, and £1 from every sack sold is donated to charity.

Jimmy’s first experience of marketplace lending was in March 2014 when the opportunity arose to supply One Direction merchandise as part of the pop band’s VIP offer at their concerts. He needed finance quickly to be able to fulfil the order.

Describing his experience of Funding Circle, Jimmy said it was like a ‘breath of fresh air’ as it meant he could concentrate on building the business rather than worrying about finance. Effectual Ltd has now borrowed over £300,000, across three business loans, to fund new projects.

In this picture story, Jimmy discusses his experience of Funding Circle and you can see the sacks being personalised:

Lapland sack magical Christmas

Lapland sack storage

lapland sack merchandise

lapland sacks born sons

lapland sacks stockings

lapland jute sacks

lapland sacks charity

The lapland sack company business loan

lapland sack merry christmas

lapland sack business loan

 

Do you need a business loan?
We’ve helped more than 12,000 businesses access finance for a range of finance needs. Check your eligibility online in just 30 seconds.

The Ultimate Christmas Gift Guide 2015 | Weekly Lending Review

Week 49: 30 November – 4 December 2015

During December, we’re showcasing the best marketplace gift ideas for friends and family from Funding Circle borrowers. Part one included personalised Santa Sacks, award-winning food from Somerset and hats to see you through the festive season in style. Read our Ultimate Christmas Gift Guide (part two) to help make your Christmas extra special and support local businesses up and down the country.

We’re showcasing each business on Funding Circle’s Twitter, LinkedIn, Facebook, Google+ and Instagram pages and would love for you to share the ones you like! #GiftGuide2015

New loans available to you

There are currently 46 loan requests on the marketplace, and thousands of loan parts available for you to buy.

The total value of new loans listed on the Funding Circle marketplace was £16,177,800 averaging at £77,352 per loan. The largest loan value was £500,000 and the smallest loan value was £5,280.

Business loans available to bid on:

Gross interest rates are before fees and bad debts. Your actual return may be higher or lower as 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: 30-Nov represents the week of 30th November – 4th December 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)

WLR 49 Yield

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

Number of listed loans per week

WLR 49 loans listed

Listed loan value per week

WLR 49 loan value

Total amount lent

WLR 49 amount lent

Loan parts available to buy from other investors

WLR 49 loan parts

Do you have 5 minutes to complete a short survey on our customer service?

We’re always interested to hear your thoughts and feedback so we can improve. To take the survey click here.

News you should know

Two new case studies coming soon

We visited 2 Funding Circle borrowers last week and the videos will be on the blog soon.

New images on the marketplace

We’ve updated the default sector images for loan requests. You can see the new images on the marketplace here.

Loans defaulted last week

School uniform supplier. Loan 10122. Risk band B

This East Dunbartonshire business was established in 1996 and has been placed in compulsory liquidation.

Landscapers. Loan 7242. Risk band D

This West Sussex business has been running since 2008 and is being placed in creditors’ voluntary liquidation.

Film production equipment supplier. Loan 9421. Risk band B

This Worcestershire business was established in 2003 and has instructed a debt management advisor.

Telecommunications service. Loan 1703. Risk band C

This Hampshire business has been running since 2008 and has been struggling to make its final repayment since March 2015.

Print company. Loan 8548. Risk band A+

This West Yorkshire business was established in 2008 and the borrower has become unresponsive.

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

 

The Ultimate Christmas Gift Guide (part 2)

 

Looking for cracking Christmas gifts? We can help. In the run up to Christmas we’re showcasing the best marketplace gift ideas for friends and family from Funding Circle borrowers. Last week, part one included personalised Santa Sacks, award-winning food from Somerset and hats to see you through the festive season in style.

We’re showcasing each business on Funding Circle’s Twitter, LinkedIn, Facebook, Google+ and Instagram pages and would love for you to share the ones you like! #GiftGuide2015

Day 7 : Astis Mittens, US

Are you someone who loves the great outdoors? Astis Mittens are a glove and mitten manufacturer based in San Francisco who combine today’s technology with natural materials to produce wonderfully warm gloves. Business owner Charlie, who borrowed through the  Funding Circle marketplace in the USA, views each hand sewn mitten as a work of art.

Astis Mittens Product

Day 8 : Tatty Devine

Finish off your party outfit with a piece of statement jewellery from Tatty Devine. The micro-manufacturer’s standout designs blur the boundaries between art, fashion and culture and are the perfect accessory for the party season. Tatty Devine borrowed £100,000 in May 2013 to grow the brand and expand internationally.

Day 9 : Neal’s Yard Remedies in Bath

Struggling for stocking fillers? How about a zesty citrus handwash from Neal’s Yard Remedies. This Bath franchise of the well-known British retailer is run by Jon Huxley, an Acupuncturist, Amanda Lewis-Stark, a Medical Herbalist and Elizabeth Season, a Naturopath. After finding a larger premises just 20 yards from their existing shop, they borrowed £100,000 through Funding Circle. They were 30% busier during the Christmas period in 2014, compared to Christmas 2013, thanks to your lending.

Day 10 : Pampeano

Spruce up your 2016 wardrobe with a hand stitched polo belt from pampeano, who  borrowed £30,000 in March 2014. The business, located in Dorton, near Aylesbury, supplies the majority of UK polo retailers with own label polo equipment. They also design fashionable polo belts made from Argentine leather; combining South American craftsmanship with British luxury to create exquisite hand crafted belts. The name pampeano means ‘from the pampa’, an area of Argentina renowned for its vast rolling plains.

pampeano belts

Day 11 : La Petite Poissonnerie

Looking for a festive fish dish? Husband and wife team, Nic and Zaya Rascle run a French and Japanese fusion fishmonger in London, La Petite Poissonnerie, which aims to bring together the flair of French cooking and the unique ingenuity of Japanese cuisine. They compliment the fresh fish with a selection of French Epicerie and Wines, and a range of Japanese groceries. La Petite Poissonnerie borrowed £30,000 through the marketplace in August 2015.

La Petite Poissonnerie Nic

Day 12 : BloodandSand Limited

Christmas shopping in London? Rest your feet for a moment and enjoy a classic cocktail at Demon, Wise & Partners, run by BloodandSand Limited who borrowed £104,000 to open the new bar. Business owner Rufus co-founded BloodandSand Limited more than 8 years ago with a university friend who shared his passion for delivering delicious drinks in an unrivalled atmosphere. BloodandSand Limited now has two cocktail bars in London; ‘The Hide’ on fashionable Bermondsey Street, and Demon, Wise & Partners just near Bank underground station.

Day 13 : Orchid Essence

What to get the person who has everything? How about a flower essence from The Flower Essence Repertoire?  Based on the picturesque Isle of Gigha, in the Inner Hebrides, The Flower Essence Repertoire manufactures essences from orchids grown in their greenhouse and exports them worldwide. Business owner Don Dennis borrowed £18,000 from 266 investors to buy more raw materials to increase production.

Orchid Essence

In next week’s list of marketplace gift ideas we’ll be showcasing shearling coats, art books, fruit liqueurs and much, much more. Find out more next Monday!

Thank you to all investors

Thousands of people and larger investors have lent over £960 million to 12,000 UK businesses through the Funding Circle marketplace since 2010. Thank you for all of your support in 2015, and we look forward to bringing you more lending opportunities in 2016.

Looking for finance?

Looking for a business loan to help with seasonal demand? Check your eligibility online in just 30 seconds.

Is banking about to be Uberised? November industry news.

Newspapers - Copy

Beyond Banking: Alternative groups seize business from lenders

Marketplace lending platforms are growing rapidly, and commentators predict banks will suffer similar market share losses as those inflicted on traditional taxi drivers by Uber. Marketplaces make up a relatively small proportion of total lending, but the sector is booming and continues to grow by %100 year on year. And, by creating partnerships with banks, such as our tie-up with Santander, we are able to work together to provide thousands of small British businesses greater access to finance.

P2P securitisation is coming

CityAm predicts a securitisation of small business marketplace loans will take place sometime in the New Year, which would be great news for small businesses across Europe. This is a way for larger investors such as pension funds and insurance funds to lend across marketplaces, opening up small business lending even further. This follows an ECB paper which highlighted the importance of securitisation as a way of getting more funds to small businesses.

We can lead world in financial technology, Osborne tells City

At the Bank of England’s Open Forum, The Chancellor commented that he expects fintech to transform banking, from mobile payments to marketplace lending platforms. The government is fully behind this ambition with more than £100 million already pledged to the sector through the British Business Bank, which includes £60 million through Funding Circle’s marketplace since 2013.

Funding Circle launches first P2P investment trust

Last week, the Funding Circle SME Income Fund successfully raised its first round of money to lend through the Funding Circle marketplaces, and listed on the London Stock Exchange. In this first round, the SME Income Fund has accessed shareholders including asset managers, pension funds and private wealth managers, giving small businesses the opportunity to borrow from an even wider range of investors through the Funding Circle marketplaces. For more info, please read the blog or visit the website. There was further coverage in the Telegraph, CityAM and AltFi. The shares in the SME Income Fund have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold into the United States or to US persons.

Transcript: FT City Network

In an online debate published in the Financial Times, Samir Desai, CEO and co-founder, gives his view on whether the kind of backstop liquidity facilities available to banks should be extended to other institutions. Samir comments: “Companies such as Funding Circle, which connect investors and borrowers directly, do not pose a systemic risk as they do not conduct maturity transformation.” In the rare case that a platform does fail, there are S&P rated back-up servicers that step into service down loan portfolios. He finishes by posing the question of whether central banks will potentially use marketplace lending platforms as a way to stabalise the economy and get money to small businesses in the next economic downturn. Lending through a marketplace such as Funding Circle is an investment, not a deposit, so it’s important to understand the risks involved as your returns can go down as well as up.

How to bridge the small-firm funding gap

And finally, Bank of England figures suggest that small-business overdrafts have fallen from approximately £21 billion in April 2011 to less than £13 billion today. This article in the Evening Standard addresses the small business funding gap and discusses the different options for small businesses to access finance. Statistics published in the Peer to Peer Finance Association (P2PFA) show that cumulative lending, across all platforms, now stands at over £3 billion and is on track to hit £4 billion by the New Year.

News

50% fee discount to celebrate Small Business Saturday!

Small-Business-Saturday-UK-Facebook-Banner-2015

Forget Black Friday and Cyber Monday, it’s all about Small Business Saturday here at Funding Circle!

The annual campaign promotes the benefits of buying local, and encourages the British public to consider shopping at smaller businesses rather than the high street. As the UK’s largest online marketplace for business loans, we wanted to show our support and back Small Business Saturday too.

To celebrate, we’re offering a fee discount of 50% if your business applies for a loan this weekend. Friday is included too!

Check if you’re eligible in 30 seconds.

How the offer works

  • The offer is a 50% discount from your overall fee to Funding Circle. For example, if your loan was for £100,000 over 3 years where the fee is 3% (£3,000), you would pay £1,500 and receive £1,500 as cashback.
  • This offer is open to new Funding Circle members only. To be eligible, businesses need to sign up between 4th – 6th December 2015 with the promo code, and accept their loan by 01/03/2016. Read the full terms and conditions here.
  • If you want to take advantage of this offer, apply here with the promo code: SB15.

Read more about business loans at Funding Circle.

The Ultimate Christmas Gift Guide and a record-breaking week | Weekly Lending Review

Week 48: 23 – 27 November 2015

Included in this week’s round-up: 208 businesses accessed a record-breaking £15.9 million through the Funding Circle marketplace last week thanks to you and other investors, and we’ve put together a list of marketplace gift ideas to help with your pre-Christmas prep.

New loans available to you

There are currently 33 loan requests on the marketplace, and thousands of loan parts available for you to buy.

The total value of new loans listed on the Funding Circle marketplace was £18,188,240 averaging at £76,755 per loan. The largest loan value was £450,000 and the smallest loan value was £5,000.

Business loans available to bid on:

Gross interest rates are before fees and bad debts. Your actual return may be higher or lower as 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: 23-Nov represents the week of 23rd – 27th November 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

WLR 48 loan parts

News you should know

Funding Circle Gift Guide 2015

Over the next four weeks (and in four parts) we’ll be showcasing the best marketplace gift ideas for friends and family from Funding Circle borrowers. So, instead of heading to the high street for your presents, stocking fillers and Christmas Day fayre, why not support local businesses up and down the country and make your Christmas extra special this year. Read our Ultimate Christmas Gift Guide (part one) on the blog.

We’ll be showcasing each business on Funding Circle’s Twitter, LinkedIn, Facebook, Google+ and Instagram pages and would love for you to share the ones you like! #GiftGuide2015

Improved loan comments view

We’ve improved the view for loan comments allowing you to show and hide recent information about your loans. Log back into your account to see them.

Loans defaulted last week

Electrical contractors. Loan 7477. Risk band D

This Gwent business was established in 1994 and has been placed in creditors’ voluntary liquidation.

Partition wall specialists. Loan 5757. Risk band B

This County Durham business has been running since 2003 and is putting a payment proposal together.

Mobile phone reseller. Loan 5628. Risk band C

This Buckinghamshire business was established in 2008 and is late in its repayments.

Food importer. Loan 5371. Risk band B

This Surrey business has been running since 2010 and has been struggling to make repayments since September 2015.

Energy saving solutions. Loan 2529. Risk band B

This Neath Port Talbot business was established in 2010 and is late in its repayments.

Nursery. Loan 12452. Risk band D

This Lancashire business has been running since 2007 and has proposed nominal repayments for the next three months.

Garage. Loan 8028. Risk band B

This Shropshire business was established in 2014 and is proposing an individual voluntary arrangement.

Construction business. Loan 13634. Risk band B

This West Yorkshire business has been running since 2015 and has proposed an individual voluntary arrangement.

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