£2.7 billion boost to the UK economy. August industry news
Last month, research published by the Centre for Economics and Business Research (CEBR) revealed that since Funding Circle launched six years ago, you and other investors have helped to create jobs, build homes and support regions that have faced economic hardship in the wake of the last financial crisis. To date, your committed support has helped to boost the UK economy by an estimated £2.7 billion, helping to create an estimated 40,000 new jobs across the country. Learn more about the positive impact you’re having on our blog.
Just as small businesses are critical to the success of the British economy, so too are small housebuilders. Large housebuilders on their own are unable to keep up with the rising shortfall of dwellings across the country. In order to fill this gap, it’s crucial that small developers have adequate access to finance, yet they continue to struggle to access funding through traditional channels. Direct lending platforms are helping to alleviate this problem by matching these developers directly with investors. Research shows that to date, investors at Funding Circle have helped to build over 2,200 homes across the UK, proving the huge potential for platforms to facilitate lending to the residential construction sector. Similar themes were also covered in Guardian.
The financial world has no doubt changed over the past decade; high street banks are unable to help the vast number of businesses in need of finance, opening the door to a proliferation of innovative technology start-ups. By cutting out the traditional middle man and linking supply directly with demand, direct lending platforms have allowed investors to earn positive returns, whilst creating thousands of new jobs across the country. This journalist has lent through the major platforms for a number of years and discusses his experience in detail. Remember, by lending to businesses your capital is at risk.
Following the Bank of England’s recent decision to lower the base rate, this piece looks at some of the savings and investment options available to those who are looking to make their money work harder. As always, a diversified portfolio is the recommended approach in this Telegraph piece. To learn more about what diversification means for you at Funding Circle, take a look at our blog or read more about this topic in The Times.
And finally, Business Insider has rounded up some of the best apps and services available right now that can help you do everything from sending money around the world, to applying for a mortgage online. At Funding Circle, we are very pleased to announce this month that the new and refreshed iPad app is available to download for free from the App Store! The app allows you to keep track of your account more easily and find information quickly with our simplified navigation tool. More details on in this post.