Excellence award for our Collections team! | Weekly Lending Review
Week 40: 3 – 7 October
Last week, our Collections team won the Credit Excellence Award in Collections 2016 and you helped more than 190 UK businesses access much needed finance.
New loans available to you
The total value of new loans listed on the Funding Circle marketplace was £18,579,040, averaging at £74,878 per loan. The largest loan value was £555,340 and the smallest loan value was £5,000.
Business loans available to bid on:
- Hotel in Liverpool is looking for £192,540 to refurbish some of the bedrooms
Gross interest rate 8.3%
- To expand, a shop in Middlesex needs £106,400
Gross interest rate 11.9%
- Property developer is looking for £418,480 to build a new family home in West London
Gross interest rate 8.0%
- To buy specialist equipment, a building contractor requires £185,040
Gross interest rate 8.0%
Gross interest rates are before fees and 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 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
Loans defaulted last week
Language school. Loan 6170. Risk band B
This Conwy business was established in 2006 and is 3 months in arrears.
Bakery. Loan 15349. Risk band A
This Antrim business has been running since 2011 and has become unresponsive after missing repayments.
Office supplies. Loan 17272. Risk band D
The Essex business was established in 2007 and is 3 months in arrears.
Shop. Loan 7266. Risk band C
This Fife business has been running since 2008 and was dissolved in September 2016.
Automotive parts specialist. Loan 8375. Risk band A
This Birmingham business was established in 1986 and is being placed into Company Voluntary Liquidation.
Electrical contractor. Loan 20765. Risk band B
This Essex business has been running since 2011 and has proposed a Company Voluntary Arrangement.
Construction company. Loan 7145. Risk band B
This Cambridgeshire business was established in 2002 and is being placed into liquidation.
Manufacturer. Loan 22965. Risk band A
This West Midlands business has been running since 2010 and has entered administration.
Site clearance specialist. Loan 14054. Risk band D
This Lancashire business was established in 2009 and has ceased trading.
Restaurant. Loan 22671. Risk band A
This Bristol business has been running since 2008 and has been closed for the last 2 months.
Legal cost service. Loan 12066. Risk band B
This Tyne and Wear business was established in 2009 and was placed into administration in March 2016.
Pipework specialist. Loan 15703. Risk band B
This Somerset business has been running since 2012 and is being placed into liquidation.
Building suppliers. Loan 14115. Risk band C
This Lancashire business was established in 2011 and is being placed into liquidation.
Benefits of diversification
Lending to businesses can deliver attractive returns, while helping businesses access the finance they need to grow. However, from time-to-time some businesses will be unable to repay their loan, which is why lending a small amount to lots of different businesses is so important. Watch our 90 second diversification video below to find out more. Remember, by lending to businesses your capital is at risk.
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