Your December Review – Insight and Analysis
Your lending has reached £3 billion in the UK! November was also a record month, with £129 million lent to small businesses in the UK.
While it’s fantastic to keep growing, the important story is the impact we can have on the economy. That’s why we’re very excited to say that in Q3 this year, for the first time more net lending (total lending minus repayments) was done through Funding Circle to small businesses in the UK than the UK’s major high-street banks combined*. Thanks to your support, we can continue to have a positive impact on the economy, helping thousands of businesses expand and achieve their ambitions.
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!
November highlights: launching the Made to do More campaign
At Funding Circle we celebrate the big thinkers and those who decide to get up to tackle something new. Over half of Brits (56%) think they have the skills to run their own business, but only 13% believe they’re entrepreneurial. If everyone believed they were Made to do More, we could boost the economy and ignite even more opportunities. Head to our blog to find out more about our most recent campaign.
These graphs show the most recent activity on our platform.
You’ve helped more than 9,300 small businesses access finance in the last 6 months…
Totalling over £650 million lent
November 2017 sector breakdown
Amount lent to each sector
November 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 30th November 2017. For further information on why Funding Circle defaults loans you can read our FAQ here.
Up next in December 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
*Bank of England data
**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.