Peer 2 Peer Lending Increases

According to data on the website of the Peer To Peer Finance Association website there has been a steady increase seen in the amount lent by members. The members are ThinCats, Landbay, Funding Circle, Crowdstacker, Folk2Folk, Lending Works, Market Invoice and Zopa.

For instance, in the first quarter of 2017 the cumulative lending figure was £5,708,635,402, in the second quarter of 2017 the figure was £6,391,925,730, in the third quarter of 2017 the figure was £7,168, 727, 657 and in the fourth quarter of 2017 the cumulative lending figure was £8,033,329,880. That is a rise of over £2 billion in the space of a year. We are sure that you will agree that is a significant increase.

It is interesting to compare the amount of cumulative lending between individuals and businesses. In the first quarter of 2017 the amount of cumulative lending to businesses came to £3,487,208,822 whereas to individuals the figure was £2,221,426,580. By the fourth quarter of 2017 the cumulative amount lent to businesses came to £5,039,000,838 whereas to individuals the figure was £2,994,329,042. As you can see, there were big increases over the 12 month period in particular to businesses.

The number of current lenders rose from 128,000 in the first quarter of 2017 to 138,829.

The number of current borrowers rose from 214,631 in the first quarter of 2017 to 263,110 in the fourth quarter of 2017. Of those, there were 34,566 business borrowers in the first quarter of 2017 with this figure rising to 48,834 in the fourth quarter of 2017. Individual borrowers totalled 180,065 in the first quarter of 2017 but had risen to 214,276 in the fourth quarter of 2017.

These figures are pleasing to read and it will be interesting to see if they continue on an upward trend throughout 2018. We will keep our readers up to date as and when figures become available. If you are a business looking for finance then why not let us introduce you to an experienced commercial mortgage broker.

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