Last post: Feb 15, 2015
The Secret Investor reviews the peer to peer lending market 17th of February 2015
Totals lent to date (17nd February 2015)
Assetz Capital - £61 million plus
Funding Circle - £531,176,820
FundingKnight - £10,628,000
FundingSecure - £4,244,253
Lending Works - £5,618,920
Money & Co – £4,125,000
Rebuildingsociety - £5,202,130
ThinCats - £92,928,000
Zopa - £748,000,000
RateSetter £511,557,983
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Assetz Capital
Assetz Capital's investors have so far funded £61 million plus of loans (Exact figure not available).
Interestingly, Assetz Capital is seeking £2,000,000 of funding through Seedrs – a P2P equity raising business.
There continues to be a lot of activity with 13 loans available to invest in with various companies including bridging loans and investment in a wind turbine. So, why not take a look at the opportunities in their loan book.
Funding Circle
To date, it has processed loans totaling £531,176,820 – an increase of 4.55% in 2 weeks.
Anther great couple of weeks with over £22 million lent to a variety of businesses.
FundingKnight
To date, it has processed loans totaling £10,628,000 – an increase of 2.9% in 2 weeks.
A loan was available in the auction recently for the London Psychiatry Centre that were seeking £150,000 to expand the centre, for additional staff and equipment. Apparently, it is the only such centre in the UK to offer repetitive transcranial magnetic stimulation (rTMS) treatment.
FundingSecure
FundingSecure has administered advances totaling £4,244,253 – an increase of 2.17% in 2 weeks.
As ever, these loans are quickly being taken up by investors with only two small loans available in the auction for £3,500 and £5,000 with the later being secured against a 1934 Ford Model B valued at £25,000. There will no doubt be many others that become available in due course so make sure that you are registered with them to receive e-mail notification of the loans.
Lending Works
Lending Works has arranged loans totaling £5,618,920 – an increase of 6.03% in 2 weeks.
Another good couple of weeks with in excess of £300,000 lent.
Money & Co
The amount lent so far is £4,125,000.
Investors have earned an average gross yield of over 8.2% per annum.
There are currently no new loans to invest in but there are some in the pipeline once Money & Co has completed what it needs to do. There are still some opportunities to invest in existing loans in their "Loans for Sale" section.
rebuildingsociety
rebuildingsociety's loan book stands at £5,202,130 – an increase of 1.4% in 2 weeks.
Currently, there are 2 loans available. One of these is for a business seeking £93,000 to open a second Wrap it Up franchise food outlet in central London that prepares and sells wraps with different ingredients.
Interestingly, rebuildingsociety is seeing an increase in the number of investors with them. Because of this, the loan auctions are increasing in their competitiveness resulting in rates dropping. For instance, one of their C-rated loans saw a drop in the interest rate from almost 20% to 14.5% - a fall of over 5%. That is excellent news for borrowers and it will be interesting to see if this is a trend across other peer to peer lending platforms.
ThinCats
The amount lent so far is £92,928,000 – an increase of 2.57% in the last 2 weeks.
There are 9 loans available to invest in totaling over £3,500,000 so there has been a significant increase in availability in the last couple of weeks. The loans are being sought by a variety of businesses such as a nursing home operator and a packaging company.
ThinCats has agreed a deal with ESO Capital Group who will underwrite up to £50 million of lending for larger sums. This will no doubt impact on the size of ThinCats platform.
Zopa and RateSetter
Zopa
To date, Zopa has been involved in loans totaling £734 million – an increase of 1.91% in 2 weeks.
Zopa's loan book grows steadily.
RateSetter
We have just added RateSetter to our commentary.
Since launching in October 2010, it has been involved in 92,720 loans totaling £511,557,983. RateSetter lends to both business and personal customers with the most popular reason to borrow being for car purchase. Their average loan size is £5,517 and more than 50% of borrowers pay an interest rate of 6.8% per annum. 99.4% of loans are repaid on time.
We trust that you have found the above to be of interest.
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