Our spring promotion is here! | Weekly Lending Review
Week 14: 28 March – 1 April
Spring has sprung at Funding Circle and to celebrate, we’re running a tablet promotion for all investors. 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*
New loans available to you
The total value of new loans listed on the Funding Circle marketplace was £11,418,080 averaging at £66,185 per loan. The largest loan value was £510,280 and the smallest loan value was £5,000.
Business loans available to bid on:
- Dental practice in Essex needs £210,540 to refurbish their premises
Gross interest rate 11.9%
- Property developer requires £170,040 to build a new family home in Cheshire
Gross interest rate 8.0%
- Geotechnical specialist is looking for £70,000 to buy new equipment
Gross interest rate 8.3%
- Sign manufacturer in Manchester requires £105,280 to employ extra staff
Gross interest rate 10.6%
- Fast food outlet in Leicester needs £13,000 to buy equipment and modernise
Gross interest rate 8.3%
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: 28-Mar represents the week of 28th March – 1st 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.
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
Funding Circle ISA – latest news
We’re looking forward to being able to launch the Funding Circle ISA soon. As you may be aware, in order to launch an Innovative Finance ISA, all peer-to-peer lending platforms are required to be fully authorised by the regulator, the Financial Conduct Authority (FCA). We’re working closely with the FCA on our submission and our work with them is progressing well. We’ll keep you up-to-date with progress on the blog, or join the conversation about ISAs on the forum.
Loans defaulted last week
Music publication. Loan 16271. Risk band B
This Manchester business was established in 2011 and has ceased trading.
Engineer. Loan 18804. Risk band A
This Aberdeen business has been running since 2013 and was placed into liquidation in January.
Security company. Loan 16496. Risk band B
This London business was established in 2004 and has ceased trading.
Media agency. Loan 18225. Risk band A+
This Swansea business has been running since 2013 and was placed into liquidation in March.
Manufacturer. Loan 2411. Risk band B
This Wiltshire business was established in 1990 and was placed into liquidation in November.
Digital printer. Loan 2002. Risk band B
This Dorset business has been running since 2007 and is two months in arrears.
Taxi business. Loan 7285. Risk band B
This Lancashire business was established in 2008 and is three months in arrears.
IT solution provider. Loan 11956. Risk band A
This Bristol business has been running since 2001 and was placed into liquidation in December.
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.