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Government to lend through P2P
The Guardian reported today that the UK government is to lend £30 million through two of the UK's leading peer-to-peer companies. Funding Circle, the UK's leading peer-to-business provider will be allocated £20million. Zopa, who today only offer non-business peer-to-peer loans, will be allocated £10million, as it is believed they will be extending their portfolio to include loans for sole traders.
This is great news for the peer-to-peer industry within the UK, and it shows that the government is taking it as a serious competition to banks.