Take 10: Get the most from your sales call

Quick and simple ways to boost your business in 10 minutes

 

Take 10 blog banner

Good sales calls are critical for any growing business, because no matter how good your product or service is, sales are what drive your bottom line.

Whether you have a dedicated sales team or just one person who handles all your phone enquiries, ensure you’re getting the most from your sales calls by reading over our 7 tips.

1. Be prepared

Before you pick up the phone, take every step to make sure you’re prepared. What is the agenda you’d like to cover? What are your key messages? Write this down clearly, so you can refer back to it during the call. Are you clear on what your goal is, what you need to find out and what the next steps are?

If you’re outbound calling, is there any information you can find out about the customer beforehand to help drive your conversation?

2. Introduce yourself and your company

When you’re on the call, the first thing to do is introduce yourself and your company – this could be the first interaction you have with a customer so it’s important to get this right. Be  professional, but human – no-one wants to talk to a robot!

3. Know what you’re offering

It may seem obvious, but knowing what product or service you’re offering and what the benefits are is really important. You should be able to answer almost anything the customer throws at you. Confident answers will inspire confidence in both you and your product, which are essential to closing that sale.

4. Listen

The best sales people listen to their customers – what their problems are and what they need, so you can find a solution that’s tailored to them. Put the benefits of your product in their terms, help them visualise what it can do for them personally.

5. Build rapport and show interest

Learn all you can about your customer. The next time you speak to them you can then have a genuine conversation about their needs and the solution you have come up with. This will show the customer they’re important to you and help to build trust into your relationship.

6. Follow up

Follow up on your call with an email to thank them for their time, highlight what was covered and, most importantly, what the next steps are.

7. Practice

Not all calls will result in a sale but there is always a positive to takeaway. Use every rejection as an opportunity to reflect on what didn’t go so well, so you can try a different angle on your next call.

As the founder of Skype, Niklas Zennstrom, said, “You shouldn’t be afraid of failure – when something fails, you think, ‘What did I learn from that experience? I can do better next time.’ Then kill that project (or sales technique) and move on to the next. Don’t get disappointed.”

Enjoyed this?

Have a read of other Take 10s, including how to write a press release and how to be smart with your time

Holistic healing: Natural products to cleanse the body and soul

Sunita Passi, founder of Tri-Dosha, was working as a business journalist when she became aware that many of her peers were suffering from stress and anxiety. Led by her love for holistic healing, and inspired by memories of her grandfather’s Ayurvedic health clinic in India, Sunita took it upon herself to discover how she could help others through her passion.

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In 2005, Sunita founded Tri-Dosha, producing award-winning, naturally crafted bodycare and skincare products based on the ancient Indian holistic health system, Ayurveda. They also run training sessions on their methods to masseurs and spas across the UK. By importing only natural and sustainable ingredients from places as far as India, Tri-Dosha supports small business owners and communities across the world.

To help create her new ‘NEEM’ product range, Sunita borrowed £21,060 through Funding Circle in October 2015. The product is now being sold by a major high street retailer.

In this short video, meet Sunita and find out more about how Tri-Dosha is helping to boost the UK’s wellbeing.

 

Are you interested in lending to businesses like Tri-Dosha?

Lend alongside 53,000 investors and support small businesses across the UK by signing up online today. You can use our investor information guide to help you get started and there are thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Looking to expand your business?

More than 17,000 businesses in the UK have accessed finance from Funding Circle, helping with cash flow, refurbishment, hiring staff and much more. You can check if you qualify for a business loan online in just 30 seconds.

Record-breaking week! | Weekly Lending Review

Week 46: 14 – 18 November

Last week, you and other investors helped over 460 businesses across the UK access a record £32 million to grow and prosper. Log in to view current lending opportunities on the marketplace.

Record amount of loans listed on the marketplace

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 also a record-breaking £29,005,960, averaging at £69,887 per loan. The largest loan value was £537,780 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)

We updated our interest rates on 7 November. Find out more about the change in our blog.

WLR 46 - yield

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

Number of listed loans per week

WLR 46 loans listed

Listed loan value per week

WLR 46 loan value

Total amount lent

WLR 46 amount lent

Loan parts available to buy from other investors

WLR 46 loan parts

News you should know

Funding Circle borrower Newton Farm Foods has been named Family Business of the Year 2016 at the British Farming Awards. Huge congratulations to Celia and the team. Find out how your lending helped the Gay family refurbish their farm shop and cafe in this short video.

Deloitte Technology Fast 50

We were delighted to be ranked 16th in the Deloitte Technology Fast 50, which ranks the country’s 50 fastest growing technology companies, driven by leading intellectual property and based on revenue growth over the last four years.

Loans defaulted last week

Joiner. Loan 1610. Risk band C

This Dorset business has been running since 1961 and was placed into administration in October 2016.

Ecohome specialist. Loan 20694. Risk band A+

This Bedfordshire business was established in 2008 and is being placed into liquidation.

Employee assistance programmes. Loan 6926. Risk band D

This Bedfordshire business has been running since 2005 and is 3 months in arrears.

Children’s play centre. Loan 21859. Risk band B

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

Home improvements. Loan 4899. Risk band C

This Monmouthshire business has been running since 2007 and is being defaulted to crystallise the liability of the guarantor.

Lighting specialist. Loan 3930. Risk band D

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

DIY products wholesaler. Loan 24783. Risk band A

This Bedfordshire business has been running since 1983 and was placed into administration in November 2016.

Sofa manufacturer. Loan 4296. Risk band A

This Tyne and Wear business was established in 2006 and been placed into administration.

Wiper blade manufacturer. Loan 3295. Risk band C

This Merseyside business has been running since 2000 and has entered a Company Voluntary Arrangement.

Hauliers. Loan 7951. Risk band B

This County Down business was established in 2004 and has ceased trading.

Consultancy. Loan 9309. Risk band C

This Middlesex business has been running since 2010 and is consulting a debt charity.

Pipework contractors. Loan 11118. Risk band B

This Cheshire business was established in 2006 and has been placed into administration.

Internet service provider. Loan 7276. Risk band A

This Surrey business has been running since 2010 and has entered a Company Voluntary Arrangement.

Estate agent. Loan 17659. Risk band A+

This Leeds business was established in 2010 and has ceased trading.

Grocery shop. Loan 7090. Risk band A

This London business has been running since 2009 and has ceased trading.

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.

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

Our favourite winter warmers | Weekly Lending Review

Week 45: 7 – 11 November

Whether you prefer some cosy cashmere, a beautiful beanie or a long soak in a bubble bath, we’ve put together a 6 step guide to help you keep cosy this winter.

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 £25,379,560, averaging at £72,438 per loan. The largest loan value was £567,020 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 45 yield

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

Number of listed loans per week

WLR 45 loans listed

Listed loan value per week

WLR 45 loan value

Total amount lent

WLR 45 amount lent

Loan parts available to buy from other investors

WLR 45 loan parts

Loans defaulted last week

Architects. Loan 23047. Risk band A

This Aberdeenshire business was established in 2006 and has been placed into liquidation.

Nursery. Loan 5149. Risk band C

This Cardiff business has been running since 2010 and has entered formal insolvency proceedings.

Consultancy. Loan 9309. Risk band C

This Middlesex business was established in 2010 and has consulted a debt charity.

Service station. Loan 9543. Risk band B

This North Wales business is 4 months in arrears.

Manufacturer. Loan 19010. Risk band C

This Dorset business has been running since 1961 and was placed into administration in October 2016.

Flooring specialist. Loan 20126. Risk band C

This Hertfordshire business was established in 2012 and is being placed into insolvent liquidation.

Garage. Loan 6845. Risk band B

This Yorkshire business has been running since 2014 and has proposed an Individual Voluntary Arrangement.

Building maintenance company. Loan 6359. Risk band C

This Nottinghamshire business was established in 2010 and is being placed into insolvent liquidation.

Lighting specialist. Loan 20701. Risk band E

This Hertfordshire business has been running since 1995 and was placed into administration in October 2016.

Distribution company. Loan 23220. Risk band D

This County Down business was established in 2012 and has ceased trading.

Builders. Loan 14062. Risk band B

This Surrey business has been running since 2010 and is being placed into insolvent liquidation.

Commercial cleaners. Loan 17803. Risk band A

This Somerset business was established in 2012 and has ceased trading.

Renewable energy services. Loan 18448. Risk band B

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

Pharmacy. Loan 8197. Risk band A

This Aberdeenshire business was established in 2001 and is 3 months in arrears.

Steel works. Loan 6689. Risk band D

This Carmarthenshire business has been running since 2006 and is being placed into a formal insolvency process.

Telecoms consultancy. Loan 24571. Risk band A

This Middlesex business was established in 2011 and has requested voluntary dissolution.

Steel specialist. Loan 15664. Risk band A+

This Lancashire business has been running since 2000 and is being placed into insolvent liquidation.

Manufacturer. Loan 17174. Risk band E

This Tyne and Wear business was established in 1999 and has entered a Company Voluntary Arrangement.

Estate agent. Loan 17659. Risk band A+

This Leeds business has been running since 2010 and has ceased trading.

Haulage company. Loan 7951. Risk band B

This County Down business was established in 2004 and has ceased trading.

DIY products wholesaler. Loan 24783. Risk band A

This Bedfordshire business has been running since 1983 and has been placed in administration.

Aluminium specialist. Loan 8846. Risk band B

This West Sussex business was established in 2010 and is being placed into insolvent liquidation.

Packaging company. Loan 22733. Risk band A

This Hampshire business has been running since 2010 and has ceased trading.

Marketing agency. Loan 19690. Risk band C

This Glasgow business was established in 2003 and has requested voluntary dissolution.

Telesales company. Loan 8786. Risk band C

This Glasgow business has been running since 2012 and has become unresponsive after missing repayments.

Fishing bait producers. Loan 15287. Risk band A

This Somerset business was established in 2012 and has ceased trading.

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.

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

Industry insights: 90 seconds with an expert

No one knows more about the day to day running of a business than the Funding Circle borrower community, so each month we ask an industry expert to share their expertise.

Industry insights (2) The drinkware industry

Recently, we heard from Darren Goldfinch, owner of Finch House, to gain insights into the cafe and coffee shop industry. For the second in our series, we caught up with Helen Smith, owner of Glogg, to hear her thoughts on designing and manufacturing a range of drinkware products.

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See Helen’s stainless steel cup being manufactured in our short video.

Helen started Glogg in 2007 to plug a gap in the market for stainless steel, BPA-free water bottles. To help meet an order for 200,000 stainless steel pint cups for this year’s Glastonbury festival, Helen borrowed £40,000 in January 2015.

In this short video, Helen shares her insights into bringing a successful range of products to life:

  • Lease your products to customers at events such as festivals
  • Invest in getting the right legal advice from the start
  • Carefully plan how much it will cost, and how long it will take to create a product
  • Plug any gaps in your skill set by partnering with experts

Looking for funding for your next project?

If, like Helen, there is a product you want to bring to life, you can check if you qualify for a business loan online in just 30 seconds.

We’ve helped more than 17,000 businesses access finance for a range of purposes, and you can read more stories like Helen’s here.

A year of growth for online lending. October industry news

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Combining the best of both worlds

Last month our team was the lead sponsor at LendIt, the largest conference dedicated to connecting the global online lending community. The conference, which took place over two days in London, had more than 900 attendees from across the world. Samir Desai, Funding Circle CEO and co-founder, delivered the keynote speech where he discussed the importance of being good at both the ‘fin’ and the ‘tech’. Watch the video to learn about the three ‘mega-trends’ that make online lending an unstoppable force and read this piece to hear why Samir believes our sector is about to enter a ‘golden age’.

City grandee backtracks over peer-to-peer lending

The seminal moment of the conference came when Lord Turner spoke about online lending and whether it poses systemic risk to our economy. As an individual who once viewed the industry with uncertainty, Lord Turner said he now better understands the level of credit assessment platforms undertake. He went onto say that the fast-growing sector may come to form a stable and secure part of the financial ecosystem – and could even make a future credit crunch less likely. Watch his speech here and read more in Bloomberg, Daily Telegraph, Business Insider, AltFi and the Times.

Brexit confronts U.K.’s online lenders with biggest test yet

Following the EU referendum result, Bloomberg took a look at how online lending platforms have responded. Even before the referendum, we were carrying out further stress tests on our loanbook to show what could happen to investor returns during an economic downturn. The results predict that in a deeper and longer-lasting recession than 2008, investor returns are likely to remain attractive. Although as always, capital is at risk. Read the full results on our blog.

Entrepreneurs urge government to consider access to tech talent after Brexit

Being able to attract the best talent is crucial if we want to ensure the UK maintains its status as the leading global FinTech hub. Last month, Britain’s leading technology companies wrote to the government urging them to find solutions to the digital industry’s need for international talent, particularly developers. Read more in City AM.

If it’s good enough for Neil Woodford… peer-to-peer trusts can yield up to 10% – but are they worth the risk?

Another way for investors to diversify their online lending portfolio is to look at the various investment trusts that are now in this space. These funds allow investors to diversify either across regions or platforms. Learn more about the opportunities and risks involved with these investments in This is Money. Remember, when you lend, your capital is at risk.

How treating our pets like people created a market for dog hotels and ‘clean eating’ kibble

Thousands of businesses have benefited from online lending across the country, such as Funding Circle borrower, Suffolk Canine Creche. This luxurious doggy daycare has lush overnight hotel suites, an on-site grooming spa, training lessons and even a swimming pool! The friendly staff guarantee that your pup will have a fun and enjoyable stay in their care. Candy, founder, was able to move to a bigger premises to keep up with the high demand after borrowing £100,000 from you and other investors. Read the full success story on our blog.

Can YOU solve the puzzle?

And finally, are you up for a challenge? We recently released an tricky brain teaser puzzle called Brandscape. The aim of the game is to uncover 60 globally recognised brands and companies with cryptic clues. If you answer all 60 correctly, you become a #BrandscapeMaster and have your name added to the Brandscape Hall of Fame. Think you have what it takes? Find out here!

News

Take 10: Is your business cyber secure?

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

 
Cyber security

For the seventh in our Take 10 series, we’re looking at some of the most common cyber security threats facing small businesses in the UK today, and outline 5 simple measures to help protect your business from cybercrime.

One in four businesses reported a cyber breach or attack last year

The internet has revolutionised the way businesses interact and attract customers, and many business owners feel it’s a critical part of their success. However, despite the internet’s many benefits there are security risks involved too – particularly around online security.

Government statistics warn that one in four businesses reported a cyber breach or attack in the past 12 months, and the latest Security Breaches Survey found the average cost of a severe security breach for a small business was between £75,000 and £310,800, up from £115,000 in 2014.

Statistics like these and the invisible threat of cyber crime can make it seem daunting. However, just like installing a security system in a high street shop, there are simple measures you can take to help safeguard your business against online criminal activity. To adequately protect your business, it’s data and reputation, it’s important to first have an understanding of the different types of online threats.

What is a cyberattack?

A cyberattack is any type of attempt to damage, destroy or gain unauthorized access to a business’s computer network or system. The perpetrator is often referred to as a ‘hacker.’

There are many different types of cyberattack, including:

Cyber fraud: attackers impersonate legitimate entities in order to commit fraud. An example of this would be an attacker impersonating a senior member of staff in an attempt to convince an employee to transfer company money for a seemingly legitimate business purpose.

Denial of service attack: DoS occurs when an attacker floods a website with more requests than it can respond to at one time so the website becomes unavailable. If customers cannot access your site, they may not be able to do business with you.

Hack attack: an attacker may compromise the confidentiality, integrity, or availability of a business’s network or data by exploiting a vulnerability in their cyber environment.

Ransomware: a type of malicious software, typically received by phishing email, which blocks access to computer systems until a ransom is paid.

Any combination of these cyberattacks could cause significant damage to a business of any size. Although unfortunately it’s thought that small businesses are seen as an easier target by cyber criminals, as they have more digital assets than an individual, but traditionally less security than a larger company. To help keep your business cyber secure, we’ve put together the below top 5 tips.

5 ways to ensure your business is more cyber secure

1) Use strong and unique passwords

It’s tempting to use an easy-to-remember password, like your birthday or mother’s maiden name, across multiple accounts. However, using a strong password, which includes both uppercase and lowercase letters, a number and a symbol, and unique passwords for each system, can help slow or even prevent unauthorized access to your computer or business systems. Password manager tools can help you generate and remember complex passwords.

2) Install and run antivirus or antimalware software

Antivirus or antimalware software is designed to detect viruses and malware and can help protect against or quickly identify viruses and malware on a computer system. Not every type of cyberattack can be prevented with antivirus or antimalware software, however installing and maintaining it can help minimise the risk of compromise.

3) Cultivate security-conscious staff

I’m sure we’ve all at one point sent an email to the wrong recipient accidentally, and although in some cases it might just cause embarrassment it could also have serious security implications for a business, if data were to land in the wrong hands for example. It’s important to establish a security-conscious culture as your employees have a critical role in maintaining business security. To assist, the Government provides free online cyber security training courses, which take between 45 – 75 minutes to complete, specifically designed for staff at small businesses.

4) Have a plan for when problems arise

However prepared you are there will be security incidents that arise from time to time, whether it’s your internet going down or an employee losing their work phone on a train. Having a plan in advance could help reduce the incident’s impact, support business continuity and will improve customer and stakeholder confidence. To help you put together a policy, the Department for Business Innovation & Skills have put together 10 steps for incident management.

5) Mitigate potential losses with cyber liability insurance

As part of your risk management plan, businesses can purchase cyber liability insurance which can mitigate losses from a variety of incidents, including data breaches, business interruption and network damage. Before you buy, it’s important to investigate which risks are covered by insurance packages, including your current policies, and that any new policy covers your true cyber exposure.

The overwhelming message from experts is that businesses should be prepared for a cyber security breach at all times. To help businesses stay one step ahead, the UK Government publishes a wealth of information including:

51% of businesses are yet to achieve a Government Cyber Essentials badge

There’s also a new Government-backed scheme, the Cyber Essentials badge, to guide businesses in protecting themselves against cyber threats. This typically costs around £300 to complete and provides customers that do business with you confidence that you’re taking important steps in protecting the cyber security of your business.

We hope you found this post useful. In the next instalment of Take 10, we’ll be looking at how to upskill your sales team.

The Funding Circle team

Highlights from our 5th investor evening | Weekly Lending Review

Week 44: 31 October – 4 November

This week we launched new interest rates, and posted highlights from our 5th investor evening. Take a deep dive into the key themes from the evening, including how your lending is playing a vital role in the UK economy, in this short video.

New loans available to you

There are currently 13 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 £23,385,200, averaging at £70,884 per loan. The largest loan value was £513,360 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 44 yield

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

Number of listed loans per week

WLR 44 loans listed

Listed loan value per week

WLR loan value

Total amount lent

WLR amount lent

Loan parts available to buy from other investors

WLR loan parts

News you should know

We were delighted to be named ‘Specialist Lender of the Year’ at the NACFB Gala Dinner and Industry Awards last week.

Loans defaulted last week

Security company. Loan 18236. Risk band D

This Yorkshire business has been running since 2013 and is being placed into liquidation.

Builders. Loan 15098. Risk band D

This West Sussex business was established in 2009 and is being placed into liquidation.

Glazing specialist. Loan 14146. Risk band E

This Norfolk business has been running since 2011 and is being placed into liquidation.

Restaurant. Loan 6607. Risk band B

This Tyne and Wear business was established in 2007 and is being placed into liquidation.

Interior designers. Loan 20109. Risk band A

This Aberdeenshire business has been running since 2010 and is being placed into liquidation.

Petrol station. Loan 13581. Risk band C

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

Display equipment supplier. Loan 9275. Risk band A+

This Hampshire business has been running since 1992 and is being placed into liquidation.

Agricultural product wholesaler. Loan 12553. Risk band B

This Northern Ireland business was established in 2006 and is being placed into liquidation.

Audio visual specialist. Loan 20587. Risk band B

This Hampshire business has been running since 2008 and is being placed into liquidation.

Recruiter. Loan 16279. Risk band A

This London business was established in 2002 and is being placed into liquidation.

IT reseller. Loan 13970. Risk band B

This Lancashire business has been running since 2011 and is being placed into liquidation.

Reptile retailer. Loan 9452. Risk band A+

This Monmouthshire business was established in 2004 and is being placed into liquidation.

Car showroom. Loan 17369. Risk band A+

This Midlothian business has been running since 1999 and is being placed into liquidation.

Lifestyle business. Loan 21214. Risk band C

This London business was established in 2009 and was dissolved in June 2016.

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.

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

Highlights from our summer investor evening

This summer, we welcomed 60 investors to our office in London for our fifth investor evening. We always enjoy meeting you, these evenings are a great way for you to find out what we have been working on, as well as providing a forum to give feedback. We hope those who attended had a great evening ‒ we really appreciate you taking the time to visit us.

For those who weren’t able to attend, we have put together a couple of videos from the evening. The first is a quick two minute highlight video showing how the evening went.

 

We also wanted to share an extended highlights video, outlining some of the key themes of the evening:

Key Themes:

Playing a vital role in the economy

James Meekings, Co-founder and UK Managing Director, gave an overview of the positive impact your lending has had on the UK economy since 2010, along with an update on what the EU referendum means for Funding Circle. Read more on how your lending has boosted the U.K Economy by £2.7 billion since 2010.

Delivering a strong and consistent credit performance

Jerome Le Luel, our Global Chief Risk officer, discussed how we use a balanced mix of risk tools when assessing businesses to ensure we create a full picture of a borrower’s financial health.

Jerome also discussed our recent work in stress-testing the Funding Circle loanbook. You can see what could happen to your returns in the event of the UK entering a recession on our blog. Remember, by lending to businesses your capital is at risk.

Supporting Britain’s small homebuilders

Luke Jooste, head of Real Estate & Broker Introduced Finance, talked about how Funding Circle investors are providing a solution to Britain’s housing crisis, helping to bridge the funding gap that small property developers face. We’ll be discussing more on how property lending works at Funding Circle in the coming months.

Working hard to recover your investment

Andrew Jackson, head of Collections and Recoveries, shared how the recovery rate on defaulted loans has increased since bringing our Collections and Recoveries team in-house in 2014. He also spoke about our ‘survival for revival’ strategy – which often yields the best long term results for investors.

You can read more on how our collections and recoveries process works here.

We always look forward to meeting you, and will hold more of these evenings in the future. Look out for invitations in future weekly and monthly newsletters.

Enjoy lending,

The Funding Circle team

Winter warmers: our 6 step guide to keeping cosy

What could be  better than snuggling up with your loved ones in-front of a fire over the holidays? A new pair of snug socks or a mug of hot apple cider to warm you up of course!  Stay cosy this season with our 6 step guide, featuring businesses that have flourished thanks to Funding Circle investors.

Step 1: Cosy cashmere

Cuddle up in a new cashmere jumper this season from the The Cashmere Centre. The company, based in beautiful Buckinghamshire, have a delightful range of cashmere goods. From slippers and socks to a woven house robe, you’re guaranteed to be comfortable in this soft range of clothing. In order to increase stock and improve their online presence, The Cashmere Centre borrowed £40,000 from 507 investors back in 2010.  

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Step 2: Beautiful beanies

Need to pop to the shop? Don’t forget your new Fuzzy Earflap Beanie beanie from Countryside Ski & Climb. The company specialise in outdoor equipment, so if you’re looking for new winter jackets or gloves, have a browse on their online shop. To update their website and improve their customer experience, Countryside Ski & Climb accessed £20,000 from 172 investors in 2011.

Step 3: Tasty tea

Now you’re all wrapped up, why not make yourself a cup of loose leaf tea from Nothing But Tea? The family-run tea shop have a wealth of experience in tea and stock over 200 different types! Whether you like a classic Earl Grey, Orange Blossom Oolong, or something a bit different like their Peanut Butter and Jam Fruit Tea, this shop has something to suit all taste buds. To increase stock levels to ensure prompt service, Nothing But Tea borrowed £10,000 in February 2011.

Step 4: Amazing apple Cider

If you’re more of an apple cider enthusiast, then Omi’s Apfelstrudel is for you! Omi’s Apfelstrudel presses delicious juice in Austria’s apple growing centre “Steiermark”. Drink it hot, cold, or with a little dash of spirit – whatever you fancy! To launch a new marketing campaign, Omi’s Apfelstrudel borrowed through the Funding Circle marketplace in the Netherlands in 2015.

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Step 5: Mood lighting

Wouldn’t a nice new set of fairy lights warm up your living room? Cable and Cotton encourage you to personalise your beautiful hand-made lights. Orange, yellow and burgundy hues are the perfect way to light up your home during those dark evenings. To fund stock purchase, 428 Funding Circle investors helped Cable and Cotton access £50,000 back in 2012.

Step 6: Bubble bath

Finish your day with an aromatic scented bath with foams, salts and oils from Neals Yard Remedies, based in charming Bath, England. Their popular lavender duo will help you unwind and relax – whether during a long soothing soak in the bath or a refreshing shower, it’s the perfect way to end your day. The popular shop increased their turnover by 30% over the holiday season after borrowing £100,000 from 935 individual investors.

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Enjoy lending. The Funding Circle team