Peer-to-peer lending doubles in six months

New figures released today by the P2PFA show that peer-to-peer lenders lent over £500million of new money in the first half of 2014 alone, demonstrating a further acceleration in the growth rate of growth of this important new sector. The aggregate rate of flow of funds through p2p platforms has doubled over the last 6 months.

Christine Farnish, Chair of the P2PFA, said:

“Peer to peer lending is consolidating its position as a good value and reliable form of funding for credit worthy consumers and small businesses, and more and more consumers are turning to p2p lending as a good way of putting their spare cash to work. As we continue to grow we are committed to maintaining the highest standards of business conduct and are working with the FCA to ensure a smooth transition to statutory regulation.”

For full report see 2nd Quarter data sheet available: