Your November Review – Insight and Analysis
Last month was a global record month here at Funding Circle. In the UK alone, over £120 million was lent to businesses thanks to your continued support. We’re also pleased to announce that we’ve been recognised in the LinkedIn Top Companies list for 2017. Read more here or dive into your monthly analysis below.
Each month we bring you a regular column from Simon Read, a personal finance expert with extensive experience in helping people make the most of their money. In this month’s article Simon discusses the recent rise in interest rates and how this will affect your finances.
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 highlights: meet two entrepreneurs
Our co-founder and UK Managing Director, James Meekings, met the founder of Sustainable Direction, the first business to borrow through Funding Circle. Watch the video to hear two entrepreneurs discuss the highlights and challenges of running your own business.
These graphs show the most recent activity on our platform.
You’ve helped more than 8,900 small businesses access finance in the last 6 months…
Totalling over £630 million lent
October 2017 sector breakdown
Amount lent to each sector
October 2017 regional breakdown
Amount lent to each UK 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 2nd November 2017. For further information on why Funding Circle defaults loans you can read our FAQ here.
Up next in November, 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.
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.