Funding Circle, a peer-to-peer lending website designed to make it easier for SMEs to access finance, has passed the £100million mark on its loan book!
£50million of that has been leant since September 2012 including £10million in the last 30 days alone!
These lenders match investors and businesses on the basis of desired returns weighed against risk and the maximum a business can borrow is £1million, while the minimum investment is just £20.
Challenger bank Shawbrook, which specialises in SME, says it will soon be able to lend to up to 1,500 more firms when it joins the flagship Governments Funding for Lending Scheme, which was set up last year to boost the supply of credit to businesses and consumers.
Source: Sunday Express May 5th 2013