What is happening in peer-to-peer lending - Market Commentary – 9 July 2015

Totals lent to date (9th July 2015)

Assetz Capital – almost £80,000,000
Funding Circle - £706,104,440
FundingKnight - £20,846,000
FundingSecure - £8,885,854
Lending Works - £10,631,576
Money & Co –  £6 million approx
Rebuildingsociety - £7,005,295
ThinCats - £116,647,000
Zopa - £934,000,000
RateSetter - £691,974,238
Invest and Fund - £1 million plus
LendingCrowd - £1.25 million plus
ArchOver - £5,730,000

…………..

Assetz Capital  

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

There are presently 13 lending opportunities available for a variety of businesses. As most are for sizeable sums they do tend to take some considerable time to be fully taken up.

Funding Circle

To date, it has processed loans totalling £706,104,440 – an increase of 2.64% in 2 weeks.

Another good two weeks with over £18 million advanced. 

Numerous lending opportunities are available for all sorts of businesses such as a gas pipe consultancy firm seeking £104,000 and a recruitment agency based in London requesting a loan of £134,000.

FundingKnight

To date, it has processed loans totalling £20.846,000 – an increase of 13.07% in 2 weeks. 

This is a significant increase in the amount lent in the past two weeks with this mainly due to a loan of £1,050,000 for the commissioning of a wind turbine being set up. It was fully funded within 5 days. There are no other opportunities presently available.

FundingSecure

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

Four loans are available but 3 of them are already fully funded. The one that is not is for a loan of £356,200 with the security being a first charge on an inn in Somerset valued at £475,000 (LTV 74.99%) interest rate of 12% gross. This is already 63% funded so it appears you will need to act fast if you wish to invest.

If you miss out on the above one then you will be pleased to read that there are 5 more loan requests currently being vetted by FundingSecure with security offered being property, jewellery and loose diamonds. Check their website for further details.

Lending Works

Lending Works has arranged loans totalling £10,631,576 – an increase of 4.62% in 2 weeks. 

Another commendable fortnight with almost £470,000 advanced. 

Interestingly, in excess of 50% of the amount lent since launching around 18 months ago has been in the first half of 2015. It will be interesting to see what the future holds in this respect for the remainder of this year. 

Money & Co

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

The loan of £367,000 being sought by a steel fabricator mentioned in our last report is now 64% funded so has obviously proved particularly popular in the last couple of weeks. 

rebuildingsociety

rebuildingsociety's loan book stands at £7,005,295 – an increase of 1.77% in 2 weeks.

There are 4 lending opportunities to invest in. The fitness equipment hire company loan of £120,000 we mentioned previously is still available (54% funded) with the average gross annual interest rate presently being offered by all potential investors being 19.71% - the highest rate of any of the 5 loans available. 

ThinCats

The amount lent so far is £116,647,000 – an increase of 0.61% in the last 2 weeks. 

There are presently 6 loans to invest your funds in. One of these is for a company that develops and sells microchips for pets that is seeking £200,000 with a target interest rate of 13% gross and an excellent security margin. 

Zopa and RateSetter

Zopa

To date, Zopa has been involved in loans totalling £934 million – an increase of 2.52% in 2 weeks.

Once again, a good fortnight in respect of money advanced - £23 million.

RateSetter

To date, it has been involved in loans totalling £691,974,238 – an increase of 2.63% in 2 weeks.

As ever, a commendable two weeks with in excess of £17 million lent.

Invest & Fund

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

There are presently 2 lending opportunities with one of those being for Concept Audio Ltd seeking £40,000 to purchase more stock. Interest rate 15% gross.

LendingCrowd

LendingCrowd has advanced over £1.25 million in total.

There are currently 2 loans available to invest in with one being for a computer repair and IT support business seeking £50,000 to buy a competitor business. The average interest rate is presently 10.14% gross. It is already 46.8% funded so it appears you will need to react quickly if you wish to invest

There continues to be numerous "loan parts" available enabling you to invest in existing loans.

ArchOver

To date, it has lent £5,730,000 – an increase of 35.46% in the last 2 weeks. 

An excellent performance in the last fortnight with substantial loan monies being drawn down. 

There are 2 loans available to invest in. Interestingly, one of those is the finance company that is seeking £500,000 to then lend to legal firms that we have mentioned in the past.  To date, only 5% has been pledged for this loan that is the same % when we last reported two weeks ago. The £1 million loan being sought by a specialist window restoration contractor mentioned previously has been fully pledged at an interest rate of 6.75% per annum gross.

We trust that you found the above interesting.