News Briefing - Crowdfunding, SME And Alternative Finance

Humble Grape celebrations with people drinking wine.

1.UK – P2P/SMEs

AltFi reports:

"The total cost of short-term unsecured borrowing from alternative lenders for most credit-worthy businesses has fallen below 9.5% since March.

Funding Xchange, which tracks the lending activity of 40 specialist SME lenders, says the average rate now beats that offered by mainstream banks with representative APRs of 9.9%.

The figures come from an 18-24 month loan which would be approved by 60% of applicants.