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Zopa to lend to small businesses
Following our earlier post we can confirm that Zopa will be extending its loans to encompass sole traders. Zopa made the announcement on their blog this afternoon. This is a new development that will move Zopa into the peer-to-business market.
Here is their brief statement:
We are pleased to announce that we will be taking part in the Government’s Business Finance Partnership scheme to help small businesses.
As part of this scheme, the Government will contribute up to £10million to help Zopa lend to small businesses over the coming years. We hope the additional money being lent through Zopa will help thousands of sole traders to further their business and help build the economy.
We’re really excited about this news and will be developing a process that is tailored for sole traders over the coming months – we’ll keep you posted.