The alternative finance market continues to power ahead in terms of support provided to businesses and individuals. The latest figures released by the Peer-to-Peer Finance Association (P2PFA) reveals that the peer-to-peer lending industry lent £750 million which brings the total lent by its members to just under £10 billion.
The P2PFA was established in 2011 as a representative and self-regulatory body for peer-to-peer lending in the UK. There are 8 members of the Association being Crowdstacker; Folk 2 Folk; Funding Circle; Landbay; Lending Works; Marketinvoice; Thin Cats, and Zopa.
The Association has reported that new member’s lending to businesses and individuals has grown by almost £100 million quarter-on-quarter over the last year.
To demonstrate how peer-to-peer is now going mainstream, the Association has highlighted that net lending (defined as total lending minus repayments) of £191 million over the same period was greater by £60 billion than the combined net lending of the major high street banks which stood at £130 million.
On average, three quarters of the lending support UK small businesses. The disparity between the P2P lenders and the traditional High St banks is further highlighted by the latest figures from UK Finance which show that in the 12 months to August 2018, bank lending to businesses fell by 2.1%.
The P2P sector continues to fill a gap being left by the banks and no doubt has been a lifeline for many small businesses.
I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.
Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.
Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.
Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!
Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.