Interesting facts on the % substituting banks as well as the % GDP growth the lending platforms bring
The level of peer-to-peer (P2P) business lending has increased by 250 per cent since 2012. Figures show £749m was lent in the first three quarters of 2014, and consumer lending was also up by 108 per cent. The size of the alternative finance industry increased from £267m in 2012 to £1.74bn in 2014 – £749m of which is from P2P business lending and a further £547m from P2P consumer lending. Invoice trading, equity crowd funding, community shares and rewards crowd funding, debt-based securities, and donation crowd funding also gained significant traction in the alternative finance industry. The average borrowed by a business in the P2P space was £73,222
