Week 24: 8 – 12 June 2015
In October 2013, Pure Technology took out a business loan to help with cashflow which was funded by more than 1,200 people. Founder Danny Long discusses his experience of Funding Circle on the blog, and has a special message for those who lent to his business.
New loans available to you
There are currently 74 loan requests on the marketplace which are all available for you to lend to.
Lending small amounts of money to lots of different businesses can help you earn attractive returns in a sustainable way. We’ve created a short video which runs through the basics of diversification and how you can diversify at Funding Circle.
The total value of new loans listed on the Funding Circle marketplace was £11,604,520, averaging at £69,147 per loan. The largest loan value was £500,000 and the smallest loan value was £5,000.
Business loans still available for bidding on for the next 3 days or more:
- Specialist Lego parts supplier is looking for £21,060 to purchase new IT equipment
- Property developer needs £430,000 to build two new homes in Surrey
- Circular sawing machine repairer requires £122,000 to employ more staff
- Award-winning corporate entertainment agency needs £20,840 to expand
- Northern Irish fruit wholesaler is looking for £26,600 to expand packing facilities
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. Number of loans, value of loans and amount lent are reported weekly. The dates on the graph should be read as ‘week beginning’, for example: 8-June represents the week of 8th – 12th June 2015.
Weekly average gross yield (2 weeks rolling)
Number of listed loans per week
Listed loan value per week
Total amount lent
Providing more information around defaulted loans
If you have any defaulted loans you will have noticed that we now apply a RAG (Red, Amber, Green) rating system, also known as a traffic light system, in the loan comments on your dashboard. The purpose of the new system is to help you assess the quality of your defaulted loans, and your expected return over a certain period of time.
Loans defaulted last week
Battery consultants. Loan 3512. Risk band A+
This Hampshire business was incorporated in 2005 and the loan is 4 months in arrears.
Call centre recruitment services. Loan 7263. Risk banc C-
This Cheshire business has been running since 2008 and the guarantor has become unresponsive.
Motor trader. Loan 5617. Risk band B
This London business was established in 2005 and has ceased trading.
Domiciliary care services. Loan 6552. Risk band A
This Milton Keynes business has been running since 2003 and is proposing a company voluntary agreement.
E-commerce beauty company. Loan 3155. Risk band C
This Swansea business was incorporated in 2006 and is proposing a company voluntary agreement.
All affected investors have been notified.
Our collections and recoveries team are working to recover the outstanding amounts for all of these loans. Read what happens during the recoveries process on our blog.
Enjoy lending, The Funding Circle Team