P2P market reports steady growth
By Jordan WilliamsThe Peer-to-Peer Finance Association (P2PFA) has reported steady growth in levels of new lending and the number of borrowers facilitating P2P loans in Q3 2017
Section: mobile apps categories
More than £700m was lent during the period, of which more than £472m of loans went to businesses.
Cumulative lending by the end of September 2017 was £7.1bn, up from the £4.2bn recorded in September 2016.
Robert Pettigrew, director of the P2PFA, said: “The performance of P2PFA platforms – in terms of the level of lending and the number of borrowers – has seen continued steady growth during the last quarter…
“With all P2PFA members seeking full authorisation having received the regulator’s stamp of approval, it is clear that the sector is well-placed for further responsible growth and development in the interests of its customers, both borrowers and lenders.”
The P2PFA was launched in 2011 and members include Folk2Folk, Funding Circle, Landbay, Lending Works, MarketInvoice, ThinCats and Zopa.
Keywords: Peer-to-peer, P2P, alternative finance, specialist finance, Peer-to-Peer Finance Association, P2PFA, secured lending, property investment, Robert Pettigrew, Borrowers, p2p lenders, association members
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/p2p-market-reports-steady-growth