Recent statistics by the Peer-to-Peer Finance Association have revealed the extent of the growth of the UK alternative finance space.
The cumulative total for loans to businesses and consumers at the end of Q1 stood at £1.207bn. This is up from £491m at the same point in 2013.
More than 5,100 business borrowers and 82,000 consumers have been the beneficiaries of p2p loans made up by over 94,000 lenders. For UK business, the total amount received tops half a billion, while the consumer side of p2p lending could breach £1 billion by the close of Q2. FCA regulation and the impending ISA inclusion are seen to be two of the key influences behind the sector’s impressive growth.*
This is a global movement though. In recent months we’ve had requests for our technology from every continent (Antarctica excepted…) as everyone around the world recognises the shifting changes in business and personal finance.
*Source: P2PFA and AltFinance News
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