Business Loan APRs, Businesses in Financial Distress, and Peer to Peer Lending Figures – BFB Epsd 180
A year after a Competition and Markets Authority report on transparency in the finance services market, lenders to small businesses are now required to quote an APR on lower value loans. Will it help boost competition?
More evidence that businesses are beginning to feel the strain with the latest Red Flag Alert report from Begbies Traynor revealing a jump in businesses classified as being in ‘significant financial distress’.
One sector that is doing well is Peer to Peer lending. The figures on volume of lending done by members of the Peer to Peer Finance Association in Quarter 2 2017 show that businesses are continuing to take advantage of finance from this source.