You lent a record £25 million last week! | Weekly Lending Review

Week 39: 26 – 30 September

Last week, you and other investors lent a record-breaking £25 million to over 330 British businesses. In one week!

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Record amount of loans listed on the marketplace

There are currently 11 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 also a record-breaking £23,848,560, averaging at £69,829 per loan. The largest loan value was £581,540 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 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)

WLR 39 yield

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

Number of listed loans per week

WLR 39 loans listed

Listed loan value per week

WLR 39 loan value

Total amount lent

WLR 39 amount lent

Loan parts available to buy from other investors

WLR 39 loan parts

Consumer Moneyfacts Awards 2017

We’ve been shortlisted at the Consumer Moneyfacts Awards 2017 for Peer-to-peer Provider of the Year, which helps the public make the most of their money by showcasing the very best products and providers available when looking at their personal finances.

Voting takes a couple of minutes and we’d really appreciate your vote. Completing the survey will also mean you’re entered into a prize draw to win £1,000! Terms and conditions apply.

Loans defaulted last week

Dairy farm. Loan 5345. Risk band A

This Carmarthenshire business was established in 2015 and has become unresponsive after missing repayments.

Print brokers. Loan 2002. Risk band B

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

Solar energy specialist. Loan 18129. Risk band B

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

Computer software consultancy. Loan 20241. Risk band A

This Kent business has been running since 2010 and is 3 months in arrears.

Renewable energy system installer. Loan 17131. Risk band B

This North Yorkshire business was established in 2006 and is being placed into liquidation.

Security system specialist. Loan 13034. Risk band D

This Warwickshire business has been running since 2011 and has become unresponsive after missing repayments.

Digital agency. Loan 24512. Risk band A+

This Dorset business was established in 2003 and is being placed into liquidation.

Car workshop. Loan 6282. Risk band B

This West Sussex business has been running since 2005 and is being placed into liquidation.

Jeweller. Loan 1667. Risk band B

This Derbyshire business was established in 2007 and has become unresponsive after missing repayments.

Hair salon. Loan 12136. Risk band B

This Hertfordshire business has been running since 2012 and is being placed into liquidation.

Care service. Loan 4509. Risk band D

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

Gas installation specialist. Loan 11529. Risk band D

This Glasgow business has been running since 2012 and is being placed into liquidation.

Taxi company. Loan 10052. Risk band C

This Cornwall business was established in 2009 and was dissolved in September 2016.

Locksmith. Loan 8605. Risk band C

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

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

Rob McCorquodale

 

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