£500m worth of P2P loans provided in last 3 months
By AdminOver £500m of new consumer and small business loans have been provided by peer-to-peer platforms since April…
Section: P2P
Over £500m of new consumer and small business loans have been provided by peer-to-peer platforms since April.
The latest figures from the Peer-to-Peer Finance Association (P2PFA) show this is the fastest rate of growth yet as cumulative lending by members stood at over £3.15bn.
Christine Farnish, Chair of the P2PFA, said at the current rate of lending it could hit £4bn by the New Year.
“Strong growth continues across all parts of the market, reflecting the increasing trust that both lending consumers and borrowers have in P2P platforms,” said Christine.
“We expect that growth to be further stimulated by the very welcome changes on ISAs.
“This can only benefit both consumers and the wider economy.”
Keywords: p2p, peer to peer, peer to peer finance, peer-to-peer finance association, P2PFA, christine farnish, bridging and commercial, B&C