Cumulative peer-to-peer (P2P) lending volumes in the UK broke the £7bn ($8.6bn) mark in 2016, an increase of two thirds YoY. Figures produced by the Peer-to-Peer Finance Association show that its members lent £7.3bn in 2016, taking the total lent over P2P platforms to £2.9bn overall. Of this total, roughly £4.3bn was given to businesses, with the remaining £7.3bn going to individuals.
Cumulative peer-to-peer (P2P) lending volumes in the UK broke the £7bn ($8.6bn) mark in 2016, an increase of two thirds YoY. Figures produced by the Peer-to-Peer Finance Association show that its members lent £2.9bn in 2016, taking the total lent over P2P platforms to £7.3bn overall. Of this total, roughly £4.3bn was given to businesses, with the remaining £2.9bn going to individuals.