Last post: Jan 27, 2015
The Secret Investor reviews the peer to peer lending market 27th of January 2015
Totals lent to date (20th January 2015)
Assetz Capital - £50 million plus
Funding Circle - £491,484,480
FundingKnight - £9,453,000
FundingSecure - £3,839,103
Lending Works - £5,015,295
Money & Co – £3,700,000
Rebuildingsociety - £4,706,920
ThinCats - £89,631,000
Zopa - £722,000,000
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Assetz Capital
Assetz Capital's investors have so far funded £50 million plus (Exact figure not available).
There are currently 10 loans available to invest in with 2 of them being for Aspinall of London Ltd who are luxury leather good retailers each for £500,000. There are also 4 loans for Midlands Trade Finance with 1 for £1,000,000 and the other 3 for £250,000 each with the monies being used to refinance existing borrowing and also to lend funds to businesses for trade finance propositions.
Funding Circle
To date, it has processed loans totalling £491,484.480 – an increase of 2.26% in 2 weeks.
Interestingly, they have launched a joint lending partnership with Herefordshire Council that will involve the council lending £50,000 to small businesses through Funding Circle's platform. This additional lending stream is no doubt great news for many such businesses.
FundingKnight
The figure of £9,453,000 representing the amount of loans that have been processed remains unchanged since our last market commentary because no loans have been drawn down.
In fact, there is only one loan that appears to have been posted in the live auction in the past couple of weeks. This is for Voss Finance Ltd, a finance and leasing company, seeking £85,000 for a marketing campaign and to help with existing commitments.
They have increased the maximum loan size to £500,000 so this decision has the potential to bring in additional business.
FundingSecure
FundingSecure has administered advances totalling £3,839,103 – an increase of 17.16 in 2 weeks.
Another excellent couple of weeks with loans totalling over £500,000 drawn down and currently £220,000 worth of loans to invest in with one of those being for £25,000 secured by a 1966 E-type Jaguar.
Lending Works
Lending Works has arranged loans totalling £5,015,295 – an increase of 5.34% in 2 weeks.
A good performance with over £250,000 lent in that period. Since launching in January 2014, Lending Works has arranged 1,159 loans with an average amount of £4,327.
A few days ago, Nick Harding, who is Lending Works' CEO, sat on the panel at LendIt Europe conference to debate innovation within consumer peer to peer lending.
Money & Co
The amount lent so far is £3,700,000.
Since launching in April 2014, Money and Co have completed on 12 loans for an average of £309,000 each.
Some loans must have drawn down in the last couple of weeks as there is currently only one loan available to invest in with this being for the Mar-Key Group that is seeking £425,000.
rebuildingsociety
rebuildingsociety's loan book stands at £4,706,920 – an increase of 3.93% in 2 weeks.
Currently, there are 4 loans available with one of those being for £75,000 for a care home that requires the monies for a 2 bed extension plus increase the number of ensuite rooms and put in a passenger lift. Polyguard Security Services Limited that provides manned guarding services are seeking £50,000 with a view to branching out into contract cleaning – rather a change!
ThinCats
The amount lent so far is £89,631,000 – an increase of 1.41% in the last 2 weeks.
There is quite a bit of activity in the auction as there are currently 4 loans available to invest in totalling £1,700,000 with one of those being for a firm of financial planners that is seeking £500,000 to buy back the shareholding of one of the directors who wishes to retire from the business in the next year. Another loan is for £750,000 sought by a company to purchase and develop a convenience store in Cheltenham. The company has had previous loans totaling £2.5 million through ThinCats that have all been repaid.
Apparently, Diamond Manufacturers Ltd t/a/ Vashi that is borrowing more money than anyone else through ThinCats, is to seek an equity investment through the Syndicate Room and are to hold a meeting in London on 29th January to brief people.
Zopa
To date, it has been involved in loans totalling £722 million – an increase of 1.83% in 2 weeks.
We continue to see Zopa's loan book grow consistently.
We trust that you have found the above to be of interest.
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