"As a result of peer-to-peer’s growing popularity, we are busier than ever before, both in the South and across the UK."
Peer-to-peer lender Assetz Capital has announced that it has now lent more than £250m to SMEs and property developers across the South of the UK.
Assetz provided over 125 loans in the South of the UK last year, a 25% rise on the deals lent in 2016.
Additionally, it recently expanded its product offering by launching a new loan to help professional landlords and property developers refurbish residential properties across the UK.
The UK peer-to-peer sector has grown rapidly in recent years and is now valued at over £4.6bn. Alongside the North West, the South East and South West of England are the most active regions for alternative finance in the UK.
The British Business Bank’s 2018 Small Business Finance Markets report revealed that the UK’s small businesses are diversifying in their choice of finance, with peer-to-peer business lending up 51% in 2017, in contrast to bank lending volumes, which remained relatively flat.
Mark Standley, regional director for UK South, said: “As a result of peer-to-peer’s growing popularity, we are busier than ever before, both in the South and across the UK. Peer-to-peer finance is a viable and ever-more popular alternative to traditional funding streams, and it bridges the gap between SMEs and the funding they need to drive forward projects. We are seeing it play an increasingly central role in new projects across the South, and it is now a key driver when it comes to reinvigorating the sluggish UK housing market.
“In order to provide the greatest flexibility and cater for this growing market share, we have continued to invest in our people here at Assetz. We now have a national network of 25 relationship directors able to meet and support borrowers in all locations, and we are looking to expand the Southern regional team further in late 2018.”