Goldman Sachs thinks “startup” & plans to offer consumer loans online!

July 25th, 2015|

The 146 year old investment bank, Goldman Sachs, is to launch an online lending platform next year. This is a major milestone within the P2P industry since it marks the first major bank to enter the market. The New York Times posted a lengthy article about Goldman’s plans to launch its online lending platform and compete with top USA based platforms Lending […]

Why Do Banks Reject Business Loans?

June 6th, 2015|

Why do businesses get turned down when they apply for finance? What can they do to change no into yes? And are there alternative finance routes for businesses that are rejected by the banks?

61% of small business owners looking for loans from high street banks have their applications rejected – that’s one finding of research from […]

Hidden extra bank fees hit UK businesses with £400m bill

May 7th, 2015|

Research by MarketInvoice, an online invoice marketplace, has found that some 26,000 UK businesses face up to 35 hidden fees in their invoice finance contracts with banks, on top of interest and service fees. high street lenders charge 6.4p on average for every £1 of invoice finance. About 60,000 businesses borrow £20bn every three months […]

Bank Referral Legislation to Peer to Peer lending Platforms

May 7th, 2015|

In the UK, with the Small Business, Enterprise and Employment Act receiving Royal Assent in March, it has been estimated that the bank referral legislation encouraging banks to recommend small to medium enterprises to peer to peer lending platforms encompassed in the act could result in £2bn more funding being injected into the SME economy […]

Peer to Peer Currency Exchanges challenge international banks

May 2nd, 2015|

Peer to peer (P2P) Currency Exchange websites provide customers with a cheaper option to transfer their money international because their rates are crowdsourced and only charge a flat commission of approx 0.5% per transaction, in comparison to banks which usually charge up to 5% plus.

The online P2P currency exchange market place, CurrencyFair, estimates that P2P foreign exchange will provide £250bn of […]