Online money borrowing the surge in online money borrowing

The surge in online money borrowing activity is influencing projections for consumer credit companies, with average loan volumes up 12% year-on-year. Equity research suggests this uptick could enhance Q3 earnings for listed P2P lending giants. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. It depends on several factors. If you're just starting out, have a limited credit history, no collateral and no cosigner, it may be very difficult to get a business loan, especially from a traditional bank. The economic climate and your area of industry also play a role — lenders set stricter lending requirements during difficult economic times and they may hesitate to lend to newcomers in high-risk industries like retail or restaurants. Analysts forecast EPS growth of 8–10% for leaders in the sector if interest rates remain stable.