Funding Circle's peer-to-peer commercial loan plans for 2013

This year will be an exciting one for the Peer to peer commercial loan market and we expect to see continued strong growth. The market leader, Funding Circle, no doubt conscious of the competition that is growing from their rivals such as ThinCats, Funding Knight and Rebuilding Society, have started the year by setting out their plans and vision for this year. Here is what they anticipate will happen in 2013:

• Consultations with government will commence on proposed regulation under the Financial Services Bill.  This is expected to boost consumer confidence, increase healthy competition among 'alternative finance' providers, as well as inject a breath of fresh air into the market.
• Government, through the P2P market, will also start injecting up to £110 million in funds targeted for funding small and medium businesses.
• Funding Circle is expected to reach the £100 million mark within the first six months.  Currently we have already passed £70 million - another milestone in the company's history.
• Demand from sole traders for funds has also been up and they are currently studying plans to cater to this segment.
• Asset finance products will be continuously improved in order to provide more attractive and dynamic offerings.
• More product offerings in the secondary loans market will also be added based on feedback they have been getting from borrowers.
• The latest in market data will soon be available for investors.  This is to help them make sound and timely decisions on your investment.
• iPhone and iPad apps are also in the works to keep users up to date on the latest information no matter where they are.
• They will also be building their online community which aims to increase interaction from various stakeholders in the market. This will also serve as a resource bank for information about the industry.
• A more comprehensive listings page will also be provided in order to make business matching easier and to build stronger and longer partnerships among users.

With help from regulatory authorities, continuous government support, and the continuous improvement of their products and services, Funding Circle are expecting 2013 to be another successful and banner year. At Choice Loans we continue to work closely with Funding Circle as well as the other major peer-to-peer commercial loan lenders. We've been in this market for almost 2 years now and have amassed considerable experience in this time which we hope can benefit any company wondering which peer-to-peer lending company to use to find their business. If you'd like to discuss your funding options then please either call us on 0845 1260350 or complete our Peer-to-peer commercial loan enquiry form.