Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_321582068
March 23 2020

Opportunity for platforms to work more closely with banks

Michael Lloyd Industry News, News, Property, SME News, Top 3 banks, Blend Network, coronavirus, Covid-19, Yann Murciano

Coronavirus presents an opportunity for peer-to-peer platforms to work more closely with traditional lenders to help small businesses, Blend Network’s boss has claimed.

In August 2018, Blend Network provided a £250,000 facility to County Down Developments for the development of four luxury apartments in Bangor, Northern Ireland.

After rejecting the housebuilder’s application for finance, Barclays, using the government’s bank referral scheme, passed on the case to the P2P lender.

Read more: Blend predicts “healthy deal flow” for 2020

Read more: Blend Network funds £1m of loans in 30 minutes

Blend Network chief executive Yann Murciano has predicted opportunities like this may arise this year too.

“This is an opportunity for P2P to work more closely with traditional lenders to help support all those small- and medium-sized enterprises (SMEs) and entrepreneurs, including small- and medium-sized property developers, through these challenging times,” he said.

“P2P platforms can help prop up liquidity to these SME players at such challenging times.

“Furthermore, P2P lenders like ourselves have seen more lenders coming in and interested in fixed-return property lending at such volatile times in equity markets.”

Murciano said a recession is inevitable but he is very confident that the Bank of England and the government will support the UK’s recovery.

Read more: Industry reacts: P2P would survive a possible recession

Lendy administrator makes latest payout as it adapts to coronavirus pandemic Landbay launches new application process

Related Posts

Businesswoman Writing On Checklist

Industry News, News, Property, Top 3

Proptee to apply for full FCA authorisation ahead of launch

credit card

Industry News, News, Personal Finance News, Top 3

Credit limits slide despite surge of new loan activity

Business handshake and business people. Business concept.

Industry News, News, Top 3

NorthRow appoints new chief executive

Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by