What does Brexit mean for Peer to Peer Lending?
We can only guess at what may happen if and when Brexit is finalised and goes through. It is a time filled with uncertainty. Uncertainly is certainly a poisonous endeavor for lending and banks will not be feeling comfortable lending when a big change is coming. If banks don’t lend and invest in the small businesses and companies who will strengthen our societal infrastructure then there will be a lot at risk. Young entrepreneurs may miss out on opportunity’s that could have built the future of our country.
Brexit doesn’t need to be a disaster, though, if UK giants show confidence in our manufacturing and internal skills. Putting trust into what can be achieved on our own soil could be the difference between an economy that suffers and one that thrives.
Alternatives to bank loans such as Peer to Peer lending could become the backbone of how lending and borrowing is structured in the UK. If banks aren’t happy to lend during uncertain times we must turn to each other. If we can put trust into each other and lend to those who may be the entrepreneurs of the future, then we could be doing something huge.
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