Chancellor recognises peer-to-peer lending at heart of FinTech agenda

Following this morning’s speech by Chancellor George Osborne on innovative finance and the role of alternative finance lenders,

Christine Farnish, Chair of the P2PFA, said:

“We very much welcome today’s words by the Chancellor and believe peer-to-peer lending will play a key part both now and in the future for UK SMEs. Our most recent industry figures show business and personal lending is growing with the aggregate flow of funds lent doubling over the last six months. The Small Business Bill is an important step towards ensuring our innovative industry plays a vital part in bringing more choice and competition to the UK financial sector as well as helping create jobs and growth.”