Fundingcircle.com launched on Friday August, 13th. According to figures the company released, the p2c lending service had a good start. Apparently many lenders took advantage of the cashback offer, and immediately after lending sold loan parts to other lenders on the secondary market. Review the following numbers reported by Funding Circle:
- 11 small businesses have fully accepted loans from Funding Circle lenders totalling 317,000 GBP
- Funded businesses range from environmental consultancies and recyclers, to restaurants and retailers, and manufacturing and engineering companies
- Over 1,000 lenders and borrowers have joined
- 20 loan requests from small businesses have been listed on Funding Circle, with a good number of businesses in the credit underwriting process
- Monthly interest rates for borrowers range from 7.4% to 10.7%
- ~10,000 bids have been placed on loan requests
- ~500 loan parts have been successfully transferred from one lender to another