DMO: FinTech business lending platforms benchmarked transaction value UK 2014-2020

The graph presents the benchmarked transactional value in the FinTech business lending platforms sector in the United Kingdom in 2014, and provides a forecast thereof until 2020. The statistic shows the annual transaction value in the market as a share of the referring total market potential in percentage terms. In 2014, the business lending platforms sector had a share of 0.4 percent. An overview of all Digital Markets can be found here.
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Benchmarked transaction value of the FinTech business lending platforms sector in the United Kingdom (UK) from 2015 to 2020

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Source

Release date

September 2015

Region

United Kingdom

Survey time period

2015

Supplementary notes

* Estimate.
** The figures show the annual transaction value in the selected market (market segment, region) as a share of the referring total market potential in percentage terms.

Business Lending Platforms (also: Crowd Lending) enable small and medium sized enterprises to get loans from single or multiple, private and institutional investors via an online brokering platform. On credit platforms such as Funding Circle, OnDeck, Kabbage and Lending Club, businesses can obtain small loans up to a set maximum value. As a rule, financing requests are analyzed by the provider via an internal scoring system and are checked against additional minimum requirements such as turnover. Subsequently these financing requests can be invested in by private and institutional investors at an appropriate interest rate determined by the credit rating of the company. This makes it possible for SMEs to borrow quickly and easily as the basic requirements for obtaining finance are more flexible compared to traditional bank loans. Online marketplaces, price comparison sites for bank loans and loans to companies which cannot be counted as SMEs are not included in this segment.

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Statistics on "FinTech business finance in the United Kingdom"

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