P2PFA members lending exceeds £8 billion

The P2PFA has published data showing that in the period ending in the fourth quarter of 2017, cumulative lending transacted through P2PFA member platforms exceeded £8 billion.

Commenting on the data, Robert Pettigrew, Director of the P2PFA, said “The final three months of 2017 saw considerable growth in levels of new lending transacted through platforms – with more than a quarter of a million consumers and businesses currently have a peer-to-peer loan – and £836 million in new borrowing. At a time when the approach of more traditional lenders, particularly to small businesses, comes under increasing scrutiny, the peer-to-peer lending sector has a positive story to tell which continues to drive marked levels of growth in borrower and lending volumes.”

“The narrative underpinning 2017 for most P2PFA member platforms was one of sustained momentum consolidating collectively this most significant part of the alternative finance landscape as a lender of choice for consumers and businesses, as well as offering an investment product to attract the interest of a significant number of investors. It is noteworthy that, even though P2PFA members have facilitated significant growth in lending volumes over the course of the last decade through their platforms, default rates remain low, which underscores that their emphasis on credit quality is unrelenting.”