Week 38: 16 – 22 September 2013
Last week was our best week ever for lending as £3.5 million made its way to businesses across the UK. The Midlands and the South East of England were the two most popular areas for loan requests, with working capital cited as the loan purpose for the majority of loans.
There were 56 new business loans listed last week and there are currently 30 auctions on the marketplace.
The total value of the new listed loans was £3,109,500; that’s an average of £55,527 per loan. The largest loan value was £150,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Meteorological equipment supplier is looking for a £50,00 loan
- Care home group needs a £150,000 loan
- Vocational driver trainers require a £100,000 loan
- Chartered insurance brokers are looking for a £35,000 loan
- Accountancy firm in London needs a £100,000 loan
- Swimming tuition providers require a £100,000 loan
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. Number of loans, value of loans and secondary market are reported weekly. The dates on the graph should be read as ‘week beginning’, for example: 16-Sep represents the week of 16th – 22nd September.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
News you should know
We’ve started a feature on our blog which will showcase some of the great products that you, our investor community, have helped create by lending to British businesses. This month, we’re with Balm Balm; an organic skincare manufacturer from London. If you have an upcoming birthday or housewarming to go to, these products are unique and make ideal gifts.
Have you seen the new Funding Circle blog? Be sure to subscribe to it with your email address to get regular updates: https://www.fundingcircle.com/blog/.
Loans defaulted last week
Burnley Bakery. Loan 2495
This family-run business had been trading since 1946 and was put into liquidation last month. We have made a full recovery on this loan and all 592 investors have been notified.
Logistical solutions provider. Loan 1469
This Cardiff-based business has been trading for 12 years and specialises in freight management. After experiencing cash-flow difficulties a meeting of creditors was called. The original loan amount was £100,000 and all 1,020 investors have been notified.
Enjoy lending, The Funding Circle Team
You can read last week’s weekly lending review here.