October’s Lending Impact and Borrower Stories

OctoberInvestorImpact
In this month’s post, we begin with Accountancy Learning, a business introduced by one of our partners, who were able to grow and develop thanks to your lending. Next up, meet the founders of Bobbin Bikes and hear our top tips to prepare for a brilliant bonfire night.

AGreatMonthFor
At Funding Circle we have a number of partners who recommend us to their clients if they’re in need of finance, such as JustEat, and business advisors like ActionCOACH. This month we want to talk about Accountancy Learning, a specialist training provider for accountancy learning qualifications, who were referred to us through ActionCOACH.

After struggling to get a bank loan quickly enough, Accountancy Learning borrowed through Funding Circle. We believe partnerships like this will enhance the future lending opportunities for Funding Circle investors and give more businesses the opportunity to flourish. Head to our blog to read more.

OctoberSuccessStory
BobbinBikes

Meet Tom and Sian, founders of Bobbin Bicycles, in our latest case study video. The two met in Amsterdam and immediately fell in love with The Netherland’s bicycles. After noticing a gap in the UK market for everyday bikes, the pair set up Bobbin Bicycles back in 2007. The business has gone from strength to strength – even David Beckham’s daughter has been seen riding one on Instagram! Thanks to you and other investors, Bobbin Bicycles borrowed back in 2016 to purchase new stock and keep up with the influx of orders. Find out more and watch the video to hear about their passion for their business.

Preparing for bonfire night: our top five essentials

Whether you’re going to a big public display or hosting your own, we’ve put together a list of our top five products to set you up for an enjoyable and warm night under the fireworks. All these businesses have been able expand and achieve their business goals thanks to investors. Read more.

September’s Lending Impact and Borrower Stories

In case you missed it, here’s last month’s post, where we met Christine, founder of The Kite, Surf & Sup Co, and prepared for Oktoberfest with four great London breweries.

Up next

At the beginning of November, we’ll publish ‘Your October Review – Insight and Analysis’ including statistics from across the platform and helpful tips to make the most of your investment.

As always, if you have any questions or comments our dedicated team are here to help. And if you have any further suggestions we’d love to hear them.

Enjoy lending, the Funding Circle team

Preparing for bonfire night: our top five essentials

Remember remember the fifth of November. With bonfire night fast approaching, it’s time to make sure you’re kitted out and ready to go. Here are our top five essentials for a warm and enjoyable bonfire night with friends and family, whilst also supporting some of our businesses across the country.

1) Indulge with hot chocolate

Enjoy a sweet treat under the fireworks with Choc Affair. With a range of six delicious hot chocolate flavours, there’s something for everyone. Why not try Salted Caramel? Or luxuriate in something a little different with Raspberry and Rose? To keep up with company growth and relocate to a larger premises, Choc Affair borrowed £60,000 in 2013.

HotChocolate

2) Sip on mulled cider

Looking for something a little stronger? Ashridge Cider has the perfect winter warmer for you. With bursts of flavour that will match the colours in the sky, their mulled and spicy artisan cider will warm you up on a cold bonfire night. To keep up with anticipated growth and invest in a cider mill, Ashridge Cider have borrowed over £76,000 across two loans since 2014.

CiderApples

3) Keep your drinks piping hot with a flask

Worried about your drinks getting cold? Chilly’s Bottles keep your drinks hot for 12 hours! These reusable bottles are not only practical, but also stylish. From the Dots & Dashes to the Galaxy edition, the bottles come in a variety of different colours and patterns to accommodate all tastes. To raise funds and buy more stock, Chilly’s Bottles borrowed £20,000 in 2016.

Flask

4) Cosy up with cashmere

With the hot drinks sorted, make sure you’re dressed for the occasion with Turtle Doves cashmere accessories. With everything from cashmere hats to leg warmers, you’ll be cosy and warm from head to toe. To increase stock in preparation for their peak winter season and to grow their online presence, Turtle Doves borrowed £90,970 in 2017.

Scarves

5) Ignite the sky with fireworks

Finally, make it a night to remember with Jubilee Fireworks, the UK’s most awarded fireworks company and double winners of the Montreal International Fireworks competition. With an outstanding range of products, you’ll be able to host your very own dazzling fireworks display. To boost working capital and import more goods, Jubilee Fireworks have borrowed just over £328,000 over multiple loans with Funding Circle since 2013.

Fireworks

Are you interested in lending to businesses like these?

Lend alongside 72,000 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 29,000 UK businesses have accessed finance through 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.

Meet the booming bicycle company on the road to success

Tom and Sian met in Amsterdam and immediately became obsessed with the beautiful bicycles cruising around the streets. Back in London, they soon realised that no shops were selling the bikes they grew to love in the Netherlands, which sparked their inspiration to start Bobbin Bikes.

Founded in 2007, Bobbin Bikes have a range of trendy leisure bicycles for everyday cyclists across the world. The unique brand is known for it’s brightly-coloured and stylish bikes with long handlebars and handy baskets – even David Beckham’s daughter is a huge fan of her Bobbin!

In 2016 the team looked at their business plan and decided to add a new online sales channel to go with their shop. They needed fast financial support to buy more stock and fulfill all their new orders. After contacting Funding Circle, the team had £250,000 in their account 2 weeks later – “For us, it felt a breath of fresh air” said Tom. The future of Bobbin Bikes has never looked so bright.

In this short video, meet Tom and Sian and learn more about their exciting journey:

Are you interested in lending to businesses like Bobbin Bikes?
Lend alongside 72,000 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 28,000 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.

New business growth in Exeter, thanks to our ActionCOACH partner

At Funding Circle, we want to do all we can to help businesses get the finance they need to grow. While most businesses apply to us directly, we also work with a number of partners, who recommend us to their clients if they’re in need of funding.

One such partner is business coaching firm ActionCOACH, who referred their client Accountancy Learning to Funding Circle in May this year.

Accountancy Learning are a specialist training provider for accountancy qualifications. The team work with over 1,000 students and 80 apprentices and recently won the AAT Champion award.

Founders Prue and Simon Deane  have been working with ActionCOACH for 18 months, with business coach Steve providing executive coaching to boost their business. Due to a change in apprenticeship funding, Accountancy Learning were in need of finance to expand their business and continue to offer their specialised training. After struggling to get a bank loan, Steve recommended Funding Circle, and they were able to borrow £25,000 in just a few days. “It had taken 3 months for the bank to say no, and it took Funding Circle 3 days to say yes”, Simon told us.

ActionCOACH has helped thousands of business owners across the globe achieve their goals, leading them to become the number one business coaching firm in the world. Since partnering last year, ActionCOACH and Funding Circle have helped UK businesses access over £3 million to grow and prosper. We believe this partnership will enhance the future lending opportunities for Funding Circle investors and give more businesses the opportunity to flourish.

In this video meet Prue and Simon and hear about their experience working with ActionCOACH. You’ll also find out more about the partnership between Funding Circle and ActionCOACH, and how we will continue to work together to help future businesses develop.

Are you interested in lending to businesses like Accountancy Learning Ltd?

Lend alongside 72,000 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.

Partner with Funding Circle

We work with a wide range of corporate and bank partners to help UK businesses access much needed finance. Email our Partnerships team at ukpartners@fundingcircle.com to find out how we can work together.

Your October Review – Insight and Analysis

Your October Review
Last month Funding Circle investors, like you, lent over £100 million to UK businesses to help them grow and develop. Dive in below for your monthly analysis.

We’re excited to be shortlisted for the Moneyfacts Consumer Awards. If you’ve received great service from Tom, Sophie, Fran or any of the Funding Circle team, please vote for us.

September lending figures
Last month, you and other investors helped businesses to take new opportunities, create new jobs and drive energy into the UK economy — thank you for your continued support!

October stats

September industry news

Thanks to investors, last year over £1 billion was lent to 10,000 businesses through Funding Circle, helping to create 25,000 new jobs. CEO and co-founder Samir Desai discusses our growth and future plans. Read about this and much more in last month’s Industry news.

Monthly trends
These graphs show the most recent activity on our platform.

You’ve helped more than 8,300 small businesses access finance in the last 6 months…
October volume of loans

Totalling over £589 million lent

October value of loans

September 2017 sector breakdown

Amount lent to each sector

October sector

September 2017 regional breakdown

Amount lent to each UK region
October region

As part of lending to businesses, a small percentage will not be able to fully repay their loan. This is known as bad debt and is a normal part of business lending. We believe diversification, where you lend no more than 1% of your total to each business, is the best way to reduce the impact this has on your return. Our automatic lending tool will help you diversify by splitting your investment across lots of businesses. We recommend lending £2,000 or more, so you can lend to 100+ businesses, with no more than 1% going to each one.  

Each week, we publish a list of the loans being defaulted on the Customer support section of our website under ‘Announcements.’ To see a breakdown of the loans defaulted last week simply click on loans defaulted 28th September 2017.  For further information on why Funding Circle defaults loans you can read our FAQ here.

Collections and recoveries

How it works

You can also read more about how our collections and recoveries process works (part one and part two) on our blog.

Up next in October, we’ll be looking at the impact your lending is having on the UK economy and bringing to life some of the businesses you’ve helped access finance.

As always, if you have any questions or comments our dedicated team are here to help. And if you have any further suggestions we’d love to hear them.

Enjoy lending, the Funding Circle team

*Data from CEBR report

This blog is a general summary, and should not replace financial advice tailored to your specific circumstances. Funding Circle is not authorised to, and does not, provide investment, tax, legal or regulatory advice. If you have any questions, please speak to your professional advisor or seek independent specialist advice.

FinTech is reaching new heights. September industry news

Business voice has to get better at getting its views across – Financial Times

As the discussions around Brexit continue, an underlying question that remains is how the outcome will affect the growth of British businesses. Whether that’s access to capital or access to talent, we want to ensure that businesses are able to reach their full potential after we leave the European Union. In this piece, our co-founder Samir Desai gives his views, alongside other industry leaders, on how we can achieve the best result for the sector and the importance of making the voice of business heard.

Britain’s leading FinTech firms are banding together to work out a Brexit strategy – Business Insider

With the aim of producing an ambitious post-Brexit vision for the UK’s financial technology (FinTech) sector, leading companies have formed an industry body (the FinTech Delivery Panel) to work with the government. Today, countless firms haven shaken up our financial world, making it possible for individuals to have control of their finances straight from their fingertips. We want to ensure that this continues once we leave the EU and that London remains an attractive place to grow a FinTech business.

Adopting FinTech is saving UK businesses £4.6bn – CityAM

A recent survey conducted by invoice finance platform, MarketInvoice, revealed that nearly two-thirds of UK businesses are adopting FinTech and making savings as a result. Not only is FinTech helping many of these companies drive their user experience and service forward, but they’re also benefiting from the choice available when looking for finance. Christine, founder of KiTE, SURF & SUP CO and windsurfing world-champion, is a great example of a flourishing business who is reaching new heights thanks to online lending.

There are two new types of Isa – should you switch to them? – the Telegraph

Investors are also seeing more choice when it comes to investment options. Over the past year, the number of Isas available has grown to include various different types that can help make your money work harder. From the Help-to-Buy Isa to the Innovative Finance Isa, you can now choose one to suit your unique preferences. At Funding Circle, we’re looking forward to being able to offer you tax-free returns with the Funding Circle ISA which we plan to launch this tax year. But remember, when you lend to businesses, your capital is at risk.

Funding Circle hits £50 million in revenue as CEO restates IPO ambitions – Business Insider

And finally, last year you and other investors lent over £1 billion to 10,000 small businesses across the world, creating an estimated 25,000 new jobs. From helping Jim’s outdoor education company go for growth, to supporting David’s IT business’ expansion plans, your continued investments are allowing booming businesses like these go even further. In this article, Samir discusses the positive growth of Funding Circle over the years and our plans to help thousands more investors and businesses across the world. Read more in the Times.

News

Picture story: Are you helping people enjoy the great outdoors?

Ready for an adventure? The Channel Group offers a range of exhilarating outdoor activities and personal development programmes. Based in Minehead, the Adventure Centre neighbours Exmoor National Park. Whilst admiring the beautiful landscape, outdoor enthusiasts can enjoy activities such as kayaking, outdoor swimming, coastal rafting, canoeing and much more. “It’s the California of West Somerset” according to business owner Jim.

The Adventure Centre has activities for all ages and abilities, including The Grom Squad aimed at children aged 8 to 16. A great present or action packed day out for all the family!

The Channel Group has borrowed over £130,000 across multiple loans through Funding Circle since 2015. This allowed them to hire more staff and buy the highest quality equipment to grow their business. In this picture story, see the Channel Group in action and meet Jim:

Thriving outdoors activities company

One simple mission

The Adventure Cente

Exmoor National Park

To name a few activities

Bonding with family, friends or work colleagues

Grom Squad

Smiles on faces

Borrowed £130,000

Funding Circle is about that

Funding Circle could help your business grow

Are you interested in lending to businesses like Channel Group?

Lend alongside 63,000 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 26,000 UK businesses have accessed finance through 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.