2 months have passed since we opened our Funding Circle account and I am pleased to say we have lent out 100% of our £500 fund. My account does show that some money is waiting to be lent out but that is because I have received repayments and the bidding cycle repeats itself continuously reinvesting my money.

I haven’t had any problems using Funding Circle and so far I really like the hands-off automated approach to their system. Below are screenshots from my second month, you can see I gained £3.56 interest from borrowers. I had more fees deducted this month probably because a lot of my loans loans had been accepted.

The first few months are always a bit slower to get the ball rolling because it takes time for your bids to be accepted and then once they have been accepted you have to wait the repayment period (usually 30 days) to see any interest. After 2-3 months you should see your entire fund pot spread out into accepted loans. I’m expecting slightly higher interest next month because of this (fingers crossed) but so far my returns look good.

Seeing as our results with Funding Circle have been very good I have added another £500 into the investment fund so as to level the playing field with Zopa.

Stay tuned for next months update.