Peer2Peer Finance News has been covering the alternative lending sector for around three-and-a-half years. In that time, we have seen P2P platforms reach a number of milestones, both individually and collectively. From new platform launches, to the growth of the Innovative Finance ISA (IFISA), to major partnerships with high street banks and institutional investors, to some of the most thorough P2P regulation in the world.
So why then are P2P platforms still treated as fringe players?
The current covid-plagued environment has presented a huge test for all lenders, from banks to P2P platforms. Small businesses and housebuilders need support like never before, with government-backed emergency schemes in place to provide funding as quickly as possible.
It is time for P2P to get the recognition it deserves. Their strong technology offerings, quick decision-making processes and good customer service make them extremely well-placed to support the government in its efforts at this crucial time.
This is why we launched the ‘back our industry’ campaign. We want to see P2P lending recognised for playing a vital role in channelling government funds to where they’re needed most.
That means including more P2P lenders in the coronavirus business interruption loan scheme and other government initiatives; making it easier for P2P platforms to distribute funding to the housebuilders and business-owners who need it; and rewarding the innovation that is now second nature for most P2P brands.
We will be petitioning the government and raising the profile of P2P across the UK, and we want you to join us. Keep checking www.p2pfinancenews.co.uk for the latest updates to our campaign and tips on how you can help P2P get the credit it deserves.