What is happening in peer-to-peer lending - Market Commentary – 23 July 2015

Totals lent to date (23rd July 2015)

Assetz Capital – almost £80,000,000
Funding Circle - £730,853,300
FundingKnight - £21,446,000
FundingSecure - £8,885,854
Lending Works - £11,341,478
Money & Co –  £6 million approx
Rebuildingsociety - £7,171,345
ThinCats - £120,314,000
Zopa - £959,000,000
RateSetter - £713,852,695
Invest and Fund - £1 million plus
LendingCrowd - £1.25 million plus
ArchOver - £6,135,000

…………..

Assetz Capital  

Assetz Capital's investors have so far funded almost £80,000,000 of loans (most up to date figure available).

It appears to have been a busy couple of weeks with 24 lending opportunities available for a range of businesses including £650,000 being sought by a hotel in Derby to refinance existing borrowing plus carry out refurbishments. LTV is low at 37.96%.

Funding Circle

To date, it has processed loans totalling £730,853,300 – an increase of 3.5% in 2 weeks.

An outstanding two weeks with almost £25 million lent.

Many lending opportunities are available for different types of businesses such as a beauty salon seeking £30,260 for an online booking system.

FundingKnight

To date, it has processed loans totalling £21.446,000 – an increase of 2.88% in 2 weeks.

There are a couple of opportunities to invest in with one being for a care home requesting £85,000 to refurbish the premises and another company seeking £150,000 to increase stock levels. The later is already 100% funded so you will need to act quickly if you wish to invest. 

FundingSecure

FundingSecure has administered advances totalling £8,885,854 (latest figure available) 

There are three loans available to invest in that, rather unusually, are all secured by property/land. One of these borrowers who is seeking £560,000 against land valued at £800,000 has agreed to increase the bonus rates payable as they are keen to take up the loan that is only 52% taken up as soon as possible.

As always, there are several loan propositions being assessed including one for only £500 secured against fine wines valued at £800 and another for £2,000 against a Chanel watch worth £4,500. Interest rates on both these loans are 12%.

Lending Works

Lending Works has arranged loans totalling £11,341,478 – an increase of 6.68% in 2 weeks.

Another excellent two weeks with over £700,000 lent.

Lending Works has attracted some favourable press coverage recently in view of the potentially attractive returns available to investors.

Money & Co

The amount lent so far is £6 million approx. (latest available figure) 

The loan of £367,000 requested by a steel fabricator mentioned previously is now fully funded. No other lending propositions are currently available.

rebuildingsociety

rebuildingsociety's loan book stands at £7,171,345 – an increase of 2.37% in 2 weeks.

A steady couple of weeks in terms of money lent with over £166,000 drawn down.

There are 4 lending opportunities to invest in. A vocational education training company is seeking £75,000 to refinance a couple of loans on which it is paying high rates of interest. It is already 87% funded. A debt collection agency is applying for a loan of £38,500 for marketing and recruiting more staff. On its first day it was 48% funded with investors offering an average gross interest rate of 19.07%.

ThinCats

The amount lent so far is £120,314,000 – an increase of 3.14% in the last 2 weeks.

A very good two weeks with over £3.6 million lent.

There are presently 8 loans available to invest in. My Ultra Baby that provides a professional ultrasound service is seeking £330,000 to clear an existing loan, open new outlets and set up a franchising operation. The target interest rate is 14% and the loan is already 50% funded.

Zopa and RateSetter

Zopa

To date, Zopa has been involved in loans totalling £959 million – an increase of 2.68% in 2 weeks.

Lending on Zopa's platform continues towards the £1 billion level with £25 million advanced in the last fortnight.

Zopa recently ran its first national TV advertising campaign on Channel Four and Sky that ended on 20th July. It will be interesting to see if this attracts more business in the coming weeks.

RateSetter

To date, it has been involved in loans totalling £713,852,695 – an increase of 3.16% in 2 weeks.

A further £21 million plus lent in the last fortnight. 

RateSetter has become the first peer-to-peer lending platform to advance £250 million this year.

A Which? Survey has put RateSetter ahead of top rated providers of savings accounts for customer satisfaction.

Invest & Fund

To date it has been involved in loans totalling over £1 million.

Congratulations to Invest & Fund as, this month, the company attended the 1066 Business Awards ceremony that is sponsored by the Federation of Small Businesses having won the Small Business of the Year award.

There are a couple of lending opportunities. One of these is for a property development company seeking £650,000. Interest rate 11% gross. This is almost fully funded so you will need to respond quickly if you wish to invest.

The other is for previously mentioned Concept Audio Ltd that requires £40,000 to purchase more stock. Interest rate 15% gross. Interestingly, to date, only £3,375 has been raised.

LendingCrowd

LendingCrowd has advanced over £1.25 million in total.

There is only the one new lending opportunity with this being for Logicalware that provides an inbound e-mail management service. The company is seeking £45,000 to increase its product availability and assist in expanding overseas. The average interest rate is currently 11.21% and the loan is already 53% funded.

There continues to be many "loan parts" available should you wish to invest in existing loans.

ArchOver

To date, it has lent £6,135,000 – an increase of 7.07% in the last 2 weeks. 

Just over £400,000 lent in the last 2 weeks.

A construction company is seeking £180,000 to assist in the growth of the business at an interest rate of 6.75% gross. It is currently 34% funded.

We trust that you found the above of interest.