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New entrants in the P2P market
The first quarter of 2013 has brought no less than four new entrants to the P2P market, and there are at least two more companies preparing to launch. These new entrants are Mayfair Bridging who specialize in bridging loans, Folk2Folk who specialize in commercial and buy-to-let mortgages, Assetz Capital who specialize in loans to small and medium enterprises and Funding Secured who specialize in secured lending to businesses. The two companies still in the pre-launch phase are CivilisedMoney and Lend Loan Invest, who we have mentioned previously.
From the lender's perspective, Mayfair Bridging, Folk2Folk and Funding Secured are all targeting the higher net worth individuals, whereas Assetz Capital, Civilised Money and Lend Loan Invest are targeting the "retail lender" with minimum loan amounts in the tens of pounds rather than the tens of thousands of pounds.
This is proving to be an exciting year for peer-to-peer lending with an industry that is growing at a huge rate compared with the economy as a whole.