UK P2P Business Lending Growth Remains Robust
Chart of the Week W07-2017:
Further to the recent article on Peer2Peer Finance News "Business appetite for P2P loans has fallen, says NACFB chair” AltFi Data have provided some more detailed numbers to provide clarity. The article cited data which included P2P SME lending as a sub-set of a much wider set of figures. By extracting the P2P SME numbers alone we can see that growth remains robust. Far from falling, the data in fact reveals that all three of the distinct segments that could be described as ‘business funding’ continue to exhibit strong growth.
Stuart Law, CEO of Assetz Capital said “In contrast to the NACFB findings, Assetz Capital has experienced a massive increase in demand for loans from businesses, in common with all of the other leading P2P platforms. In the last quarter of 2016, Assetz Capital lent £46m to businesses and property developers in what was a record quarter for us.
The nature of much of P2P is direct loans, so while there are great opportunities for the broker community, and we fully support them, more businesses are clearly feeling comfortable about going directly to P2P platforms. It appears that the NACFB’s data shows brokers are losing market share of a rapidly growing sector and should perhaps reconsider their focus."
This year has already started very strongly with strong indications that the P2P market remains one of the most vibrant sectors for businesses to get funding from.”