The peer-to-peer (P2P) lending sector is still growing steadily, after several years of very rapid expansion. Perhaps part of the reason for this is the fact that small and medium-sized businesses seem to be rather poorly served by mainstream financial services (see several pieces – “older stories” – written over the past three years in our News section).
The Financial Times is the latest to come up with an article along these lines. The FT reprises a 2015 survey of 125 small businesses by UK insurer Direct Line, which “found that one in six thought they had suffered from poor professional advice over the previous 12 months, with an average cost to the business of almost £21,000. Forty-four per cent of companies surveyed blamed information technology consultants, followed by specialists in management (34 per cent), marketing (32 per cent), property (23 per cent) and communications (16 per cent). Accountants came sixth at 9 per cent, ahead of advertising consultants (8 per cent) and lawyers (6 per cent).”
P2P Loan Performance & Pipeline Update
We have an exciting, large new loan in the pipeline. Stay tuned for more on this.
Meanwhile, Money&Co lenders have achieved returns of almost 9 per cent – before deduction of our one per cent fee – in the three years and nearly £10 million of loans facilitated on our platform. We currently have two fast-filling P2P loan offers on site – both fixed at 8 per cent yield. Webuyanyhome is A+ and property-backed. Mar-Key is A-rated. Further detail is available to registered Money&Co. users. Money&Co. loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
If you haven’t made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment.