P2PFA comments on the UK Alternative Finance Industry Report
Following the publication of Pushing Boundaries – The 2015 UK Alternative Finance Industry Report, Christine Farnish, independent chair of the P2PFA said:
“Today’s report shows not only how the market is evolving, but it demonstrates how significant the alternative finance industry has become to consumers and small to medium-sized enterprises. In only a matter of years, peer-to-peer business lending and invoice trading is playing an important funding role for thousands of creditworthy SMEs, while the growth in peer-to-peer consumer lending is challenging the traditional banks and building societies.”
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Notes for Editors
· Pushing Boundaries – THE 2015 UK ALTERNATIVE FINANCE INDUSTRY REPORT has been issued by the Cambridge Centre for Alternative Finance, Nesta, KPMG and CME Group Foundation.
· P2P business lending remains largest alternative finance sector in UK. Nearly £1.49bn was lent to UK SMEs in 2015, representing a 99% growth rate. Minus real estate lending (£609m) the number was £881m. This represents around a 13.9% share if compared with BBA lending figures from 2014.
· P2P consumer lending reached £909m compared with £547m in 2014. A 66% year-on-year growth.
· Invoice trading reached at £325m.
For historical data, please visit our website at: https://p2pfa.org.uk/data
The P2PFA is the industry body for peer-to-peer lending and works to promote high standards of business practice and an effective regulatory framework.
Current membership includes Funding Circle, Landbay, Lending Works, LendInvest, MarketInvoice, RateSetter, ThinCats and Zopa. Collectively P2PFA members serve over 90% of the current UK market.