Lending on rebuildingsociety Till 18 Jan

Here are the latest high-rate loans that are open for you to bid on from rebuildingsociety, the P2P lending company that finances riskier loans to businesses.

Lending on rebuildingsociety over the next ten days could give you a pre-bad debt interest rate of 16% to 19%.

New lettings and property management business

The average interest rate on this five-year loan is currently 19.62% and bidding to take part is due to end at 9pm on Saturday 11 January.

Since this is a new business and with no first-charge security, the loan is graded C. (Top grade at rebuildingsociety is A+ and the bottom grade is C-.)

This loan for £95,000 is already 94% funded. If it becomes fully funded before you bid, you can still under-cut existing lenders by offering lower interest rates.

The loan is to a brand new company, which wants to buy a residential lettings and property management franchise and “develop the existing business to the level it should be for a territory of it size.”

Expansion loan to community supported living company

This is another C-grade loan for five years. The average interest rate is currently 15.66% and the loan auction ends at 9pm on Monday 13 January.

This loan for £28,000 is fully funded, but there’s a wide spread of bids, so you might be able to under-cut some of the higher offers and still get higher than average interest.

The company wants to expand to service more people and believes it can get 30% to 40% return on its investment.

Loan to heat treatment company

A company that does special heat treatment on materials for engineering companies wants to borrow your money for both expansion and for new plant equipment.

An older loan to this company through lenders on rebuildingsociety is going to be rolled into this new one.

The average interest rate is currently 16.46%. You can bid higher, but the higher you bid the less likely you'll be able to take part in the loan, since the lowest bidders win.

The loan is for £100,000 and £50,000 of it is already funded. Since there is just one day left to go, there's a fair chance that, if the loan goes ahead, you'll be successful if you offer higher than average interest rates.

The security for this loan is complex. There is a personal guarantee from the directors to pay up from their own money if the business can't pay. There is also security on real assets, although that security does not cover the entire value of the loan.

The auction is due to finish at 9pm on 15 January.

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