Demand for alternative source of finance for small businesses is rocketing

British FlagDemand for alternative sources of finance is rocketing, with figures this weekend showing that lending to small firms through peer-to-peer lending site Funding Circle has passed £100 million.

The site, set up less than three years ago, has grown so fast that experts estimate in ten years it could account for ten to 20 per cent of small business lending.

Smaller firms access more than £1million a day via alternative sources of finance, and new entrants are always appearing.

Last week saw the launch of crowdfunding platform, CrowdBnk, aimed at putting would-be entrepreneurs in touch with investors.

Read More at This Is Money

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