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Peer2Peer Finance News | June 25, 2019

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Posts By Marc Shoffman

MarketInvoice: SMEs favour invoice finance over business loans for growth

June 24, 2019 |

ONLY one in 10 small- and medium-sized enterprises (SMEs) would use a traditional business loan to grow their firm, research claims.

A poll of 1,000 business owners by MarketInvoice found invoice and asset based finance were the most popular funding … Read More

Relendex unveils new head of lending operations

June 24, 2019 |

RELENDEX has continued its hiring spree with the appointment of Claire Newman as its head of lending operations.

Newman (pictured) joins the peer-to-peer property lender from Masthaven Bank where she was head of underwriting in the short-term lending department.

“At … Read More hits 1m loans milestone

June 21, 2019 |

EUROPEAN short-term peer-to-peer lender has now financed one million loans.

The Latvia-based P2P lending platform said on Friday that its cumulative loanbook has a total value of €89m (£79m).

It has funded 284,400 loans in the first five months … Read More

Losses grow at Crowdstacker but its assets are on the rise

June 21, 2019 |

CROWDSTACKER’S cumulative losses since inception rose to £1.3m for the 12 months to March 2019, but it has been boosted by more share capital and cash at the bank.

The peer-to-peer business lender’s annual accounts showed it made a loss … Read More

Bank of England backs data platform to boost SME financing

June 21, 2019 |

THE BANK of England said it will consult on developing a data platform that will store financial information from small- and medium-sized enterprises (SMEs) and help them access funding.

Bank of England Governor Mark Carney said the traditional metrics for … Read More

LendingCrowd appoints first general counsel

June 20, 2019 |

LENDINGCROWD has appointed Robbie McKenzie to the newly created post of general counsel and chief risk and compliance officer.

McKenzie (pictured) joins the Scottish-based peer-to-peer lender from Pollen Street Capital where he held a similar role.

He has also held … Read More

P2P investors sceptical about interest rate rises

June 19, 2019 |

MORE than half of Assetz Capital’s peer-to-peer investors are not convinced that more frequent Bank of England interest rate rises are on the way.

Bank of England Governor Mark Carney (pictured) said in May that interest rate rises could be … Read More

Government to introduce 60-day breathing space scheme for those tackling problem debt

June 19, 2019 |

INDIVIDUALS and families struggling with problem debt are to be given a new period of “breathing space” from lenders and public bodies.

Those who have fallen behind on debts such as loans and overdrafts as well as tax payments will … Read More

Growth Street raises £10m from City investors

June 18, 2019 |

GROWTH Street has closed a £10m institutional funding round and said it will use the proceeds to improve its credit decision systems and expand its sales team.

The peer-to-peer business lender’s latest funding round was led by existing investors Merian … Read More

Old RDL board ‘failed to manage platform exposures’

June 18, 2019 |

THE PREVIOUS board of RDL Realisation failed to prudently manage and monitor platform exposures, the investment trust claims.

The fund, previously named Ranger Direct Lending, has claimed in its delayed annual report that established practices within the lending industry were … Read More