This article is astonishing and positive news for the peer-to-peer lending industry. One point of note in the article is: “If [Funding Circle] were a bank it would be among the 50 largest small business commercial and industrial loan portfolios in the US, according to the latest FDIC data available, cited by Funding Circle”. This is especially significant since Funding Circle has grown in a short period of a little more than five years in comparison to some banks, which have been in business for decades.
Seeing peer-to-peer lending flourishing is thrilling for all of us at Prime Meridian. Prime Meridian Capital Management has invested in the individual, home, auto and small business peer-to-peer lending sector for years on behalf of our clients. We look forward to the industry continuing to grow in years to come.
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