Have you heard of peer-to-peer lending?
The practise involves private savers lending money to businesses and projects via an online peer-to-peer lending website – effectively enabling anyone to become a financial broker.
This allows small and medium enterprises (SMEs) to secure funding without going through a traditional financial intermediary, such as a bank or loan company.
Peer-to-peer lending has been around since the mid-1990s, but its popularity has surged in recent years following the 2008 global financial crisis that resulted in banks becoming far more scrupulous with lending, making it harder for businesses to secure loans.
In June, the Glasgow Chamber of Commerce announced […] Read more