British Government Boards The P2P Lending Train: Plans To Loan ?30M Through Funding Circle, Zopa

Despite bailing them out (and practically owning some of them), the UK government seems unable to force high street banks to begin lending to small businesses again and this is causing a big problem for the economy -- the wheels of capitalism won't grease themselves. The latest solution coming out of the Department for Business Innovation & Skills is to board the P2P lending train. The UK government has pledged ?110 million of tax payer's money to lend to SMEs through 'alternative finance' schemes and today we've learned that two P2P lending sites, Funding Circle and Zopa, stand to benefit, with each receiving ?20m and ?10m respectively.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/JYXUjDl0TAk/

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