You could earn £50 cashback | Weekly Lending Review

Week 22: 23 – 27 May

Our spring promotion has come to an end, but you could still earn £50 cashback paid into your Funding Circle account for each friend you recommend to Funding Circle.
Terms and conditions apply.

New loans available to you

There are currently 24 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £13,940,580 averaging at £85,191 per loan. The largest loan value was £511,640 and the smallest loan value was £5,000.

Business loans available to bid on:

Loan parts available for you to buy:

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: 23-May represents the week of 23rd – 27th May.

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 22 yield

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

Number of listed loans per week

WLR 22 loans listed

Listed loan value per week

WLR 22 loan value

Total amount lent

WLR 22 amount lent

Loan parts available to buy from other investors

WLR 22 loan parts

News you should know

Last week, we visited Funding Circle borrower Anorak Press, an independent kids publishing house, to film our latest case study. Keep an eye out on the blog for the video coming soon!

You can view our other case studies and meet the business owners you’ve helped access finance on the blog.

Would you be happy to provide a testimonial about your experience of Funding Circle? Provide feedback in just a couple of minutes.

Loans defaulted last week

Locksmith. Loan 5025. Risk band A

This Radnorshire business has been running since 2009 and is 3 months in arrears.

Steel building manufacturer. Loan 14560. Risk band E

This Devon business was established in 2010 and was placed into liquidation in October.

Printers. Loan 14824. Risk band C

This Hampshire business has been running since 1998 and was placed into administration in April.

Grocery store. Loan 15077. Risk band B

This London business was established in 2012 and has become unresponsive after missing repayments.

Factory. Loan 13341. Risk band C

This West Midlands business has been running since 1992 and was placed into liquidation in April.

Country house hotel. Loan 17391. Risk band B

This Cumbria business has been running since 2014 and is 3 months in arrears.

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

6 free tools to give your email marketing a boost

Business toolkit

Email is one of the simplest and most effective ways of connecting with your customers, so for the first of our business toolkit series we’re focussing on the apps and tools you can get for free to help improve your email marketing.

This list will take you through your email design, right through to tracking who’s opening them.

Take 10

1. Building an email? Consider MailChimp

Keep your customers up-to-date and reach out to new ones with pre-designed email templates from MailChimp. If you’re new to email marketing, have a look at their support centre which has easy to watch video tutorials. You’ll be an email ninja in no time!

2. Pixabay’s free imagery will brighten your template

Using colour increases readers’ engagement, so why not make an impact by adding an image to your email template. Pixabay has images and illustrations which you can use for free.

3. Use Touchstone to test your subject line

Once you have your email design ready, you’ll need to think about your subject line – it’s your one chance to engage customers so they open your email. Take a look at Touchstone which allows you to test any subject line and get expected results, straight away. Touchstone tests opens, clicks and delivery rates – KPIs crucial for your campaign’s success.

4. Looking for contacts? BuzzStream could help

Use BuzzStream’s Email Research Tool to help you find email addresses of the contacts you’d like to connect with. You can add somebody’s name and company and BuzzStream will automatically generate Google searches to help you find their email address.

5. Hubspot’s email tracking

This app tells you when your email has been opened and clicked on, so you can follow up on any hot leads. Knowing who is and who isn’t opening your emails will help guide you on your email strategy.

6.Mail Tracker

Similar to Hubspot’s email tracking, use Mail Tracker to find out if people are opening your emails which can help you improve your marketing techniques. See where, when, on what device, for how long and how many times your emails were viewed.

There are hundreds of free tools available to give small businesses a boost – you just need to know where to find them! For the next instalment of our Take 10 series, we’re exploring more free tools to help with marketing.

Enjoyed this? Read our 5 trade secrets to email marketing or how you can improve your brand impact by using colour.

171 UK businesses access finance | Weekly Lending Review

Week 21: 16 – 20 May

Last week, you and other investors helped 171 businesses across the UK access £13.8 million through the Funding Circle marketplace. Of the new loans listed, the South East was the most popular business location, and property & construction was the most popular sector.

New loans available to you

There are currently 22 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £11,876,840 averaging at £83,533 per loan. The largest loan value was £527,460 and the smallest loan value was £5,000.

Business loans available to bid on:

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: 16-May represents the week of 16th – 20th May.

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 WLR 21-16

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

Number of listed loans per week

Loans listed 21-16

Listed loan value per week

Loan value 21-16

Total amount lent

Amount lent 21-16

Loan parts available to buy from other investors

Loan parts 21-16

Stay with a Funding Circle borrower this bank holiday weekend

Looking to get away this bank holiday weekend? We’ve put together a list of 5 fantastic weekend retreats with Funding Circle borrowers so you can support small businesses while having a great weekend away!

Loans defaulted last week

Manufacturer. Loan 9691. Risk band C

This Kent business has been running since 2006 and was placed into liquidation in May.

Electrical contractor. Loan 10575. Risk band C

This Surrey business was established in 2011 and has become unresponsive after missing repayments.

Stone masonry. Loan 9343. Risk band A

This Glasgow business has been running since 2008 and has become unresponsive after missing repayments.

Engineers. Loan 12635. Risk band D

This West Midlands business was established in 2002 and is 3 months in arrears.

Training specialist. Loan 5063. Risk band A

This London business has been running since 1997 and is 4 months in arrears.

Paint supplier. Loan 6067. Risk band A

This Kent business was established in 2003 and was placed into liquidation in April.

Head hunter. Loan 13303. Risk band C

This Hertfordshire business has been running since 2012 and is in the process of entering liquidation.

Building company. Loan 16162. Risk band B

This Greater Manchester business was established in 1980 and was placed into liquidation in May.

Vehicle accessories supplier. Loan 16400. Risk band C

This Devon business has been running since 2009 and has become unresponsive after missing repayments.

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

Top 5 Funding Circle Weekend Retreats | Weekly Lending Review

Week 20: 9 – 13 May

Summer is fast approaching and with a bank holiday coming up, it’s a perfect opportunity to take a well deserved long weekend away with friends and family. We’ve put together a list of 5 fantastic weekend retreats with Funding Circle borrowers so you can sit back, relax and enjoy.

New loans available to you

There are currently 45 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £17,703,700 averaging at £83,500 per loan. The largest loan value was £570,560 and the smallest loan value was £5,000.

Business loans available to bid on:

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: 9-May represents the week of 9th – 13th May.

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 20-16 yield

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

Number of listed loans per week

WLR 20-16 loans listed

Listed loan value per week

WLR 20-16 loan value

Total amount lent

WLR 20-16 amount lent

Loan parts available to buy from other investors

WLR 20-16 loan parts

News you should know

Included in this month’s industry news, Funding Circle CEO Samir discusses Funding Circle’s rapid growth in The Sunday Times and a recent report shows that people are more likely to recommend fintech to their friends than any other traditional provider.

Loans defaulted last week

Off license. Loan 7068. Risk band B

This West Midlands business is 3 months in arrears.

Mini supermarket. Loan 7396. Risk band B

This Shropshire business has been running since 2014 and is 3 months in arrears.

Rock crushing specialist. Loan 9337. Risk band A

This North Yorkshire business was established in 2011 and was placed into liquidation in April.

Bike shop. Loan 16786. Risk band A

This London business has been running since 1992 and was placed into liquidation in May.

Hotel. Loan 2815. Risk band C

This Powys business was established in 2006 and has become unresponsive after missing repayments.

IT specialist. Loan 8714. Risk band C

This Leicestershire business has been running since 2004 and was placed into liquidation in June.

Mailroom equipment supplier. Loan 14478. Risk band A

This Cumbria business was established in 2002 and was placed into liquidation in March.

Shop. Loan 19660. Risk band E

This London business has been running since 2013 and has become unresponsive after missing repayments.

Software developers. Loan 16076. Risk band D

This London business was established in 2012 and is 3 months in arrears.

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

 

Stay with a Funding Circle borrower this bank holiday weekend

Summer is fast approaching and with a bank holiday coming up, it’s a perfect opportunity to take a well deserved long weekend away with friends and family.

We have five fantastic Funding Circle borrowers located across some of the most beautiful locations in the UK, so what better time to support small businesses while having a great weekend away!

1. The Crown at Wells

A stone’s throw from Wells Cathedral, this 15th Century coaching inn is based in the heart of the historic city, and was even featured as part of the smash hit comedy Hot Fcrown-at-wellsuzz.

The rustic bistro and bar is named after Quaker William Penn (who gave his name to Pennsylvania USA), as he famously preached to a crowd from an upper window of the inn in 1685. If you are looking for some heritage and history this bank holiday weekend, you will not be disappointed with The Crown at Wells.

To help refurbish the bar, the business borrowed £50,000 from 674 investors.

2. St. Kilda Hotel

With great views of the Irish Sea, St. Kilda Hotel is nestled in the middle of Llandudno’s beautiful promenade, with easy access to all the town has to offer. This family-run business is sure to give you a warm and friendly welcome.

St. Kilda Hotel used their Funding Circle loan to cover maintenance and refurbishment costs, borrowing £30,620 from 322 investors in December 2015.

3. The Oaklands HotelOak-Bar-1

Located just five minutes from Norwich city centre, The Oaklands Hotel is conveniently situated for anyone wishing to explore this charming city. With a bar and terrace, in addition to great local knowledge on offer, you won’t be without things to do!

To complete the refurbishment of the hotel, The Oaklands Hotel borrowed £462,980 over two loans, from 4,683 investors between 2014 and 2016.

4. The White Hart

If you are looking for a more active weekend away, The White Hart offers an ideal place to rest after a day exploring the stunning Lake District. This historic and authentic bed and breakfast is sure to please real ale aficionados, with a well-stocked bar that has featured in CAMRA’s Good Beer Guide.

The White Hart Inn borrowed £30,000 in February 2016 to help provide cash flow.

5. Nethway Hotel030

Set in the beautiful English Riviera, Nethway Hotel is a short walk from both the beach and Torquay town centre. With plenty to do and a picturesque coastline to explore, a weekend away here could be one of your best chances of sunshine this bank holiday weekend.

In order to fully launch a new product onto the market, The Nethway Hotel borrowed £63,160 from Funding Circle in November 2015.

 

Do you want to grow your business? More than 14,000 businesses in the UK have accessed finance through Funding Circle for a range of requirements. You can apply online in less than 10 minutes and check your eligibility in just 30 seconds.

Are you interested in lending to businesses through Funding Circle? Create an account online and start lending the same day. Remember, by lending to businesses your capital is at risk.

Enjoy lending,

The Funding Circle team

Look out banks, soon we’ll be the biggest lender to small companies. April industry news

Newspapers - Copy

Look out banks, soon we’ll be the biggest lender to small companies

Funding Circle has come a long way since the three founders, Samir Desai, James Meekings and Andrew Mullinger, rounded up £60,000 from their own pockets to get the business off the ground back in 2010. At the time, they thought there was probably space for a small player. Today Samir says, “Within two years we will be the biggest lender to small companies in the UK. We’re a huge part of the financial ecosystem now.”  With the continued support from you and other investors, we have truly been able to make a difference to small businesses across the UK.  

Milestone for European P2P securitisation

April proved to be an exciting month as the German development bank, KfW, invested in the first ever European securitisation of loans originated through the Funding Circle marketplace. They did this with support from the European Investment Fund, which provided a guarantee to their investment. Securitisation is a mechanism that provides larger investors with the ability to lend to small businesses, helping to supply much needed liquidity to the real economy. We want to create the infrastructure where any investor, big or small, can lend to small businesses, so that businesses have multiple sources of potential credit rather than relying solely on banks as they have done in the past. Further coverage can be seen in City AM and AltFi.

How to topple bureaucracy

As a company grows, so too does structure and hierarchy. The question is, “how do you create order and be more effective as a group?” Andrew Mullinger, Funding Circle co-founder, discusses the importance of keeping creativity, engagement and employee satisfaction alive in the workplace as well as implementing controls in a fair and efficient way. Handling staff in a fast-growing company can be a challenge, which is why a you need a system that suits your business’ needs.

Boss of Government-backed Business Bank is upbeat over increased lending

The Government-backed British Business Bank recently revealed a positive assessment of lending to small businesses in the UK. The flow of finance is increasing as bank lending begins to recover and alternative sources of finance are becoming better known, ultimately giving small business owners more choice in their search for finance.

Why big banks won’t be able to join the fintech boom

Another recent report shows that 63% of people who have used a fintech product are more likely to recommend them to friends than any other traditional provider. High-street banks are trying to keep up with these fast-growing new challengers, however many of the existing players are too big and burdened down by costs and an over-regulated market. Tie-ups between banks and marketplace lending platforms are increasing, which is fantastic as it allows businesses to have access to the finance they need. Check out our most recent case study on the blog that stemmed from our partnership with RBS.

The 40 coolest people in UK fintech

And to wrap up this month’s industry news, Business Insider recently put together the 40 most exciting people in the fintech scene right now, and Pam Burton, COO at Funding Circle UK, was ranked at number 5! The list features people who have been involved in successful tech companies in the past, or companies that have recently raised impressive amounts of money or scaled particularly quickly. Know anyone that deserves to be highlighted? Have your say in the comments!

3 ways to motivate staff in a small business

15.6 million of the UK’s workforce are employed by small businesses – so without the big budgets and perks of larger companies, how do you motivate your team?

The Total Jobs survey found that 51% of jobseekers believe there’s less opportunity for progression in a small business because of the perceived lack of a traditional progression ladder.

Climbing without a ladder

This kind of thinking is damaging to staff motivation and it’s also unfounded. It’s true that small businesses are unlikely to support traditional progression, but the personal development opportunities they offer are, for many people, much better. Small business employees face a flexible progression path that’s more like a climbing wall than a ladder – employees can forge their own path up, going sideways or diagonally.

It’s your job to be the guide rope on the rock wall: support your employees, suggest ways to progress, and prevent them from falling into demotivation.

Rock climbing

What motivates your team?

Whitney Johnson, author of Dare, Dream, Do, says the most successful businesses are those that recognise that each of their employees carries a secret dream.

Small business owners are well-placed to understand the aspirations of their staff – you probably know your team by name, something near impossible for the CEO of a large company. And your staff are more likely to be invested in the company.

Beech’s Chocolates, a chocolate manufacturer in Preston and Funding Circle borrower, prides themselves on the loyalty of their employees. One member of staff has been with the business for 45 years!

1)  Talk to your employees: what are their goals?

Big corporations have HR departments, but for a small business owner it’s likely to be just you and your employees. One of the best steps you can take is recognising that one-on-one conversations should happen, and being proactive about starting them.

Here are some conversation-starters and prompts for talking to staff about their goals:

– Where do you see yourself in five years?

– What can you do in your current role to help you get there?

– What opportunities are there within the business to help get you there?

2)  Think about how they can achieve their goals

Talking about aspirations shows you care about progression, which in itself can be a huge motivation boost.

Say Tim works for you in sales, but reveals that he studied design at university and wishes he could work in that field. Even if your company doesn’t have the need for a full-time designer, Tim could spend a couple of hours each week working on the website and newsletter design.

Tim hasn’t progressed up – this isn’t a career ladder – but he’s moved sideways and got a foothold in his dream career. He’s taken a step up in career rock climbing. This will make him feel appreciated, supported and engaged, giving him a motivation boost in his sales role. On top of that, the new website design could even attract new customers.

3)  “Train them so they can leave, treat them well so they stay”

This quote from Richard Branson is a great summary of why it pays to invest in staff. Personal development represents an investment, but training can incentivise employees to stick around longer and motivate them to work harder.

Should training matter to small businesses?

For Funding Circle borrower Michelle Partington, who runs Lancashire catering company Lakeland Picnic, investing in staff development is her number one tip for building a successful business. Michelle said, “I’ve put people on college courses and various things like that, I always try to instil that kind of learning philosophy.”

Looking for finance?

If you’re considering training schemes for your team, find out how Funding Circle could help you finance them. Check your eligibility online in 30 seconds for business loans from £5,000. 

Are you helping to build new homes in Liverpool? | Weekly Lending Review

Week 19: 2 – 6 May

Last month, we visited property specialists Forth Homes, who are currently building 17 affordable family homes in Liverpool, thanks to more than 14,000 Funding Circle investors. Take a tour of the properties and meet Director Peter in this short video.

New loans available to you

There are currently 38 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £12,072,840 averaging at £80,356 per loan. The largest loan value was £521,820 and the smallest loan value was £5,000.

Business loans available to bid on:

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: 2-May represents the week of 2nd – 6th May.

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 19 - yield

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

Number of listed loans per week

WLR 19  loans listed

Listed loan value per week

WLR 16 - loan value

Total amount lent

WLR 19 amount lent

Loan parts available to buy from other investors

WLR 19 loan parts

News you should know

It’s the final week of our spring promotion! To receive one of the fabulous devices listed below increase the amount you lend to businesses by 16th May 2016. 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*

Top tip: to qualify investors must have lent and continue to lend the amount until Monday 16th May.

If you have any questions about this promotion or how you can qualify, please email us and we’ll be happy to help, or read full details about how to qualify.

Loans defaulted last week

Solicitors. Loan 15363. Risk band A

This County Durham business was established 2006 and has proposed a Partnership Voluntary Arrangement.

Engineers. Loan 11374. Risk band A

This Merseyside business has been running since 1983 and was placed into liquidation in March 2016.

Book specialist. Loan 14512. Risk band B

This Bedfordshire business was established in 2013 and has become unresponsive after missing repayments.

Polymer manufacturer. Loan 2425. Risk band B

This Cheshire business has been running since 1994 and has proposed a payment plan.

Dairy farmer. Loan 13880. Risk band E

This Somerset business was established in 2010 and has become unresponsive after missing repayments.

Coach hire. Loan 5430. Risk band B

This North Lanarkshire business has been running since 2012 and is three months in arrears.

Fireplace supplier. Loan 2430. Risk band C

This Surrey business was established in 2005 and has proposed a payment plan.

Mortgage broker. Loan 13462. Risk band A

This Cumbria business has been running since 1998 and has ceased trading.

Telecommunications wholesaler. Loan 16683. Risk band C

This Essex business was established in 2011 and has become unresponsive after missing repayments.

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.

 

Take 10: How to write a press release

Quick and simple ways to boost your business in just 10 minutes

For the first in our Take 10 series, we consider the art of writing a press release. No matter what size you are or the industry your company is in, being able to write a press release is a must for any growing business.  

Take 10 blog banner

What is a press release and why are they important?

A press release is a way to announce important business news to stakeholders, such as existing and prospective customers, and the media.

Let’s look at an example. Say you run a restaurant and you want to announce you’re opening a new one in the area. A press release is your way of communicating this news, helping you to attract new customers and staff to the premises. You may also want to use this as an opportunity to forge partnerships with local suppliers.

There are three main points to think about when you’re writing one:

1. What is the one thing you want to tell people? Think of this as your key message.

2. Why is this information interesting and attractive for a journalist to write about?

3. How do I ensure they pick the right message for my target audience?  

Now let’s look at the structure of your press release.

The headline is your key message.

Paragraph 1 should tell readers the story around your news. If someone was to only read the headline and first sentence, they should know what the story is about.

    Harry’s Pizzeria to open locally-sourced restaurant in Brighton

    Harry’s Pizzeria, the popular family-run pizzeria, has announced its expansion by acquiring a new premises on the seafront, in a bid to become the first restaurant serving only Sussex-sourced produce.

Paragraph 2 will include more detail on the first paragraph.

    Following its launch in 2010, Harry’s Pizzeria has gone from strength to strength, continuing to serve local food to local people. With over 15 employees and a regular customer base, the restaurant will now open a second premises on Main Street in June.

Paragraph 3 is where you can talk in more depth about your business – your elevator pitch. In the above example you could consider writing about what Harry’s Pizzeria is, where it came from and why you chose locally-sourced produce for the second restaurant. Keep in mind you may be speaking to readers who have never heard of your business.

Add a quote or two from the most relevant spokesperson or people – anyone from the restaurant owner to a CEO.

Add ‘END’ at the bottom, followed by contact details and any notes to the editor, including how you calculated figures in your release for example.

Finish up by adding general information about the business, otherwise known as your boilerplate.

You should aim for your press release to be no longer than 1 side of A4 and accompany it with a cover email, which can highlight anything else which may be of interest to the journalist, such as the offer of an interview with a spokesperson. And don’t forget to add the date!

Sending it out to journalists

Do some research to find out if anyone has written about a similar topic recently – they may want to follow up and write about something similar again. It’s also worth knowing when journalist’s deadlines are so you can send your press release across at the right time. National deadlines tend to be early in the morning, whereas regional press are likely to have a deadline day for the following week’s paper.

We hope you’ve found this post useful. Come back for the next installment of Take 10, where we look at the benefits of having your business on Google Places. 

The Funding Circle team

Business inspiration from Leicester City

You would have been hard pressed not to have heard about Leicester City’s extraordinary Premier League title win earlier this week, an achievement scarcely believable considering the odds stacked against them. Some bookmakers quoted 5,000-1 for Leicester to win the league at the start of the season.

As a small business owner, it can sometimes feel like you are in your own David and Goliath story, but there are learnings we can apply from this ultimate sporting underdog tale to the small business world.

1. Spend wisely.

It would be inaccurate to portray Leicester City as paupers, the Deloitte Money League ranked them in the top 30 highest earning football clubs in the world for 2016. However the financial gulf between Leicester City and some of their rivals for the title was enormous, with Leicester’s wage bill around a quarter of Manchester United’s two seasons ago. For small businesses access to finance is integral for growth, but investing money in the right way is crucial to keeping ahead of the competition. Like Leicester, recruiting the right staff, with the right mentality, is crucial for success.

2. Teamwork makes the dreamwork.

Although they have some of the league’s outstanding players, a large part of Leicester’s success was driven by their ability to operate as a well drilled unit. Pundits and rival players have commented on how “The whole team all know their jobs, from front to back”, and Leicester’s tactics played to the strengths of the team. Your business may only have a small workforce compared to some of your competitors, but this provides an opportunity to really maximise the human capital available to you. Ensuring each member of staff knows their own role, and also their colleagues’, helps your business operate as a cohesive unit. In addition, setting collective goals for everyone to work towards as well as recognising that each employee will have their own individual ambitions, results in everyone pulling in the same direction.

3. Support from the top to the bottom.

From the boardroom to the changing room, each level of management within the Club looked to provide as much support as possible. For example, Leicester’s Thai owners flew a group of buddhist monks to the UK for most home games to bless the players before kick off, while the manager took the whole team out for pizza every time they achieved a clean sheet. Recognising even the smallest victory, by any employee at any level, helps build a culture that rewards and motivates your team to success.

4. Responding to setbacks.

One thing that surprised so many about Leicester’s season was just how consistent they were, responding to the inevitable bad results that occur over the course of the season instantly and decisively. Over the entire season, the longest Leicester went without a win is three games, and followed their last defeat with a ten game unbeaten streak. Likewise, when running any business setbacks are inevitable. What matters is how prepared your business is for when they occur, and most importantly, how you can apply the learnings that you and your team take from them.

We hope you have found this useful, and to find out if a business loan from Funding Circle is suitable for you, check your eligibility online in just 30 seconds.

The Funding Circle Team

Find out how introducer David Collins helped a car sales business owner turn his vision of being debt free with a great work life balance into reality

David Collins joined the Funding Circle introducer family three years ago and helps businesses access the finance they need to prosper and succeed. In 2015 he helped one of his clients, Broomhill Motors, an established car sales business in Devon, get funding through the Funding Circle marketplace to hire additional staff.

Owned by Graham Bonning, Broomhill Motors have been trading successfully for 15 years and has a built an admirable reputation specialising in trading Mercedes cars. The business has grown organically from retained profits and various sources of finance, however, in 2015, Graham took a necessary step back from the business to create a long term vision: “Being debt free with a great work life balance”.

Being a ‘one man band’ business, Graham had little time away from running a company 7 days a week. However, with help from introducer David Collins, Graham was able to secure a Funding Circle loan in just 3 days which allowed him to hire a part-time employee and finally have the time to enjoy quality time away from work. It also helped in reducing the cost of his car stock finance.

Graham said “I worked with David for a year and found him very helpful in giving me focus and targets regarding my business, as well as my personal finances. Even though I have been in business for 15 years it’s always helpful for someone to look at it from a different point of view”.

Broomhill Motors’ vision has been turned into a reality, thanks to Funding Circle introducer David.

Are you an introducer with clients in need of fast and flexible finance through Funding Circle? Cast your eyes over our list of top tips for introducers applying for a loan or check if your client is eligible online in just 30 seconds.

The Funding Circle Team

17 new family homes in the North West, thanks to 14,000 investors

Last month, we visited Funding Circle borrower Forth Homes, who specialise in building affordable family homes across Merseyside and the North West. Launched in 2009, the business started out refurbishing properties, but in 2013 the four directors decided to grow the property development side of the business.

Since 2013, Forth Homes has built 32 new family homes, helping to address the current housing shortage we face. Looking ahead, they plan to build 60 houses in 2016 and 100s more over the coming years. Director Peter Foxcroft told us “we want to be able to provide the people of Merseyside and the North West with affordable homes.”

Forth Homes gates property

Forth Homes borrowed £3.2 million from over 14,000 investors through the Funding Circle marketplace to fund development schemes and purchase property in Liverpool. The developers are currently building 17, three and four bedroom, family homes across three sites. The houses will cost between £155,000 and £595,000.

The Funding Circle property product was launched in April 2014, and has since facilitated over £200 million in loans to experienced property developers, helping to build over 800 new homes across the UK. Funding Circle property finance specialist Parik Chandra has been working closely with Forth Homes for over a year, from assessing their schemes to monitoring progress and completion.

In the short video meet Director Peter Foxcroft, Funding Circle property finance specialist Parik and find out how your lending is helping build family homes across the North West:

Property development loans were available between April 2014 and April 2017. If you work in the property industry and are looking for finance, we may still be able to help you with an unsecured loan up to £350,000 with a personal guarantee, or a secured loan up to £1 million.

Get an instant quote online or speak to our dedicated team today on 0800 048 8747.

5 tips to protect yourself online | Weekly Lending Review

Week 18: 25 – 29 April

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.

New loans available to you

There are currently 25 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £14,276,260 averaging at £84,430 per loan. The largest loan value was £500,560 and the smallest loan value was £5,000.

Business loans available to bid on:

Loan parts available for you to buy:

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: 25-Apr represents the week of 25th – 29th 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)

WLR 18-16 yield

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

Number of listed loans per week

WLR 18-16 loans listed

Listed loan value per week

WLR 18-16 loan value

Total amount lent

WLR 18-16 amount lent

Loan parts available to buy from other investors

WLR 18-16 loan parts

News you should know

The European Investment Fund, part of the European Investment Bank Group, and KfW, a German government-backed bank, are set to invest in UK small businesses through the Funding Circle marketplace. Find out more in City A.M.

Don’t miss out on our spring promotion!

You’ve got just under 2 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*

If you have any questions about this promotion or how you can qualify, please email us and we’ll be happy to help, or read full details about how to qualify.

Loans defaulted last week

Recruiter. Loan 7525. Risk band C

This Renfrewshire business was established in 2008 and has appointed an advisor to assist with their finances.

Metal production specialist. Loan 10558. Risk band B

This Stirling business has been running since 2009 and appointed a liquidator in February 2016.

Home entertainment systems. Loan 9531. Risk band B

This Merseyside business was established in 2009 and was placed into liquidation in April 2016.

Underwear supplier. Loan 6418. Risk band D

This London business has been running since 2004 and was placed into liquidation in April 2016.

Dentist. Loan 13281. Risk band A+

This Kent business was established in 2009 and is 3 months in arrears.

Jeweller. Loan 5213. Risk band A

This West Sussex business has been running since 2007 and has become unresponsive after missing repayments.

Property management company. Loan 8877. Risk band C

This West Yorkshire business was established in 2011 and has ceased to trade.

Catering equipment wholesaler. Loan 13704. Risk band A

This London business has been running since 2012 and was placed into liquidation in April 2016.

Finance brokers. Loan 5440. Risk band A

This North Somerset business was established in 2003 and will be placed into liquidation in the coming weeks.

Oil and gas consultants. Loan 7315. Risk band C

This Surrey business has been running since 1989 and is considering a Company Voluntary Arrangement.

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.