‘Crowdfunding’ Surges in UK After Banking Scandal


“Until the launch of Funding Circle in August 2010, small business lending was dominated by the major high street banks. We’re challenging that dominance and providing a service,” James Meekings, co-founder of Funding Circle said. “There’s no reason why, in the future, Funding Circle cannot represent a significant proportion of the market.”

The Bank of England’s executive director for financial stability, Andy Haldane, has also been keen to back this growing industry.

“Commercial peer-to-peer lending, using the web as a conduit, is an emerging business,” he said in speech back in March.

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