From Farnborough to the Far East: did you lend to this glass fibre specialist? | Weekly Lending Review
Week 17: 18 – 22 April
For our latest case study we visited Composite Reinforcements in Hampshire, who specialise in the distribution of glass fibre and raw materials. In October 2015, business owner Bob took out a £150,000 business loan to pay a manufacturer early and take advantage of a rebate which covered the cost of the loan. Watch this short video to find out about the supply chain involved in the distribution of glass fibre and the importance of the Yangtze River in China.
New loans available to you
The total value of new loans listed on the Funding Circle marketplace was £16,809,540 averaging at £81,757 per loan. The largest loan value was £360,500 and the smallest loan value was £7,380.
Business loans available to bid on:
- Surveyor in London needs £52,640 to employ extra staff
Gross interest rate 9.5%
- Award-winning communications agency requires £142,000 for working capital
Gross interest rate 9.2%
- Property developer is looking for £400,000 to build 19 new homes in Kent
Gross interest rate 8.0%
- Pharmacy in Liverpool requires £89,480 to upgrade their computer systems
Gross interest rate 9.5%
- Media consultancy is looking for £52,640 to expand
Gross interest rate 9.5%
Gross interest rates are before fees and estimated bad debts. 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: 18-Apr represents the week of 18th – 22nd April.
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
5 tips to protect yourself online
The internet has revolutionised everyday activities such as shopping, and the way we control our finances; however, despite the many benefits the internet brings there are risks involved too – particularly around online security. We’ve put together some top tips to help you better protect your identity online and stay safe.
Don’t miss out on our spring promotion!
You’ve got just under 3 weeks to make the most of our sensational spring promotion. Increase the amount you lend to businesses by 16th May 2016, and not only can you continue to enjoy the great returns you’d expect from Funding Circle, you could also receive one of these fabulous devices listed below. Lend an additional:
£30,000+ to get an iPad Air 2*, or
£20,000+ for an iPad mini 2*, or
£10,000+ for a Kindle ereader*
Loans defaulted last week
Domiciliary care specialist. Loan 3130. Risk band B
This West Sussex business was established in 2010 and will need to repay their loan in quarterly instalments.
Shoe wholesaler. Loan 1364. Risk band B
This East Sussex business has been running since 2003 and was placed into liquidation in April.
Aquatic superstore. Loan 1364. Risk band A
This Hertfordshire business was established in 1991 and has ceased trading.
Marketing agency. Loan 14741. Risk band C
This Manchester business has been running since 2009 and was placed into liquidation in April.
Restaurant. Loan 15777. Risk band D
This Yorkshire business was established in 2004 and is being placed into liquidation.
Employment agency. Loan 14485. Risk band A
This Essex business has been running since 2003 and is entering into a Company Voluntary Arrangement.
Joinery specialist. Loan 12197. Risk band C
This Northamptonshire business was established in 2010 and is being placed into liquidation.
Construction business. Loan 17324. Risk band A
This Kent business has been running since 2013 and is two months in arrears.
Convenience store. Loan 16545. Risk band C
This Kent business was established in 2013 and has become unresponsive after missing repayments.
Renewable energy specialist. Loan 19277. Risk band B
This Devon business has been running since 2010 and is being placed into liquidation.
Our collections and recoveries team are working to recover the outstanding amounts for all of the loans described above 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.
Enjoy lending, the Funding Circle team
*Terms and conditions apply. Apple and Amazon are not a participants in or sponsors of this promotion.