New figures from the P2PFA show the industry lent more than £459 million in the first quarter of 2015, taking cumulative lending to more than £2.6 billion. The data also shows an increase in lending on the previous quarter (Q4 2014) by almost a third (32.7 per cent) with net lending flow exceeding £255 million. These figures follow data by the P2PFA showing its members lent over £1.2 billion alone in 2014.
Commenting on the figures, Christine Farnish, Chair of the P2PFA said:
“These numbers are excellent and reflect the strong industry growth into 2015. We are continuing to see strong appetite in the consumer market and a significant increase in lending flow to businesses too.”
“The future decision around how peer-to-peer lending will work within the ISA wrapper remains crucial for the industry this year. It is important to ensure a separate ‘Lending ISA’ is created, a decision that will not only create greater consumer choice, but will avoid any confusion of placing peer-to-peer loans with stocks and shares, a completely different and riskier asset class.”
Aggregate P2PFA member data
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Notes for Editors
About the P2PFA:
The Peer-to-Peer Finance Association is a UK trade body that maintains Rules and Operating Principles that must be followed by all Member organisations to protect the interests of all their consumer and small business customers. The P2PFA publishes quarterly figures showing industry data and the cumulative lending. On April 1 2014, peer-to-peer lending became regulated by the Financial Conduct Authority.
The P2PFA’s current membership includes: Funding Circle, Landbay, Lending Works, LendInvest, Madiston LendLoanInvest, MarketInvoice, RateSetter, ThinCats and Zopa.