The Peer to Peer Finance Association (P2PFA) in the UK have just published the data for the first 6 months of 2014 showing impressive growth in the P2P lending industry. The rate of flow of funds through p2p platforms has doubled over the last 6 months. New lending increased from £247.4 million in Q1 to £272.7 million in Q2.
According to the data compiled by P2PFA members, lenders have lent over £500 million in the first half of 2014 carving a path to lend over £ 1 billion for the year – an important milestone for the young industry. The P2PFA states that lending for businesses continues to rise faster than consumer lending and is heading towards parity for the year.