What a start to the year! | Weekly Lending Review
Week 2: 9 – 13 January
It’s been a busy start to the year at Funding Circle, as the government-owned British Business Bank committed an additional £40 million to UK businesses and last week we were excited to announce we’ve raised a further £80 million to invest in building our technology platform. Read more about this and other updates on the blog.
New loans available to you
The total value of new loans listed on the Funding Circle marketplace was £19,936,835, averaging at £78,877 per loan. The largest loan value was £615,720 and the smallest loan value was £5,150.
Business loans available to bid on:
- Builders in Middlesex need £84,000 for working capital
Gross interest rate 9.0%
- To expand, an audio visual specialist is looking for £42,000
Gross interest rate 9.0%
- Logistics company in Buckinghamshire needs £107,000 for working capital
Gross interest rate 12.5%
- To develop a landmark residential home in North Devon, a property specialist is looking for £110,300
Gross interest rate 8.0%
- Online learning company based in London require £53,000 for working capital
Gross interest rate 7.5%
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
Flooring shop. Loan 26083. Risk band D
This Northamptonshire business was established in 2011 and has ceased trading.
Energy assessors. Loan 15575. Risk band C
This Glamorganshire business has been running since 2008 and is being placed into liquidation.
Business development specialist. Loan 16980. Risk band A+
This Essex business was established in 2007 and is 3 months in arrears.
Roofing company. Loan 7304. Risk band C
This Bristol business has been running since 2011 and has proposed a payment plan.
Couriers. Loan 10341. Risk band B
This Kent business was established in 2009 and is entering liquidation.
Management consultancy. Loan 13690. Risk band B
This Birmingham business has been running since 2012 and is 3 months in arrears.
Farm. Loan 11030. Risk band B
This County Armagh business has become unresponsive after missing repayments.
Turnkey specialist. Loan 20636. Risk band A+
This Suffolk business was established in 2012 and is 2 months in arrears.
Digital marketing agency. Loan 9900. Risk band A+
This Norfolk business has been running since 2009 and is 2 months in arrears.
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