UK P2P Lenders Urgently Seek Access to Government Stimulus

UK based p2p lenders RateSetter and Assetz Capital are pushing the government for access to government financing to help them keep lending; “There are established schemes run by the BoE that pump liquidity into the system in the event of these situations,” said Rhydian Lewis, CEO of RateSetter, to the FT. “Now that P2P lending is fully regulated, this is a conversation we need to have.”; while there is no precedent for including p2p platforms in these actions, the platforms are now fully regulated and believe they qualify; “We’re looking for that to be expanded dramatically,” said Stuart Law, CEO of Assetz, to the FT. “The government needs to step up and support not just the banks but the lenders.” Financial Times

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