Alternative Finance Market Projected to Expand at a Robust CAGR by 2026: Funding Circle, Lending Club, Kickstarter, Market Invoice, and Prosper Marketplace
The decline of organizational financial institutions' willingness to lend to SMEs has emerged as a decisive factor driving growth in the global alternative financial market. Financial institutions organized under the impact of the 2008 recession were reluctant to provide loans to individuals and small businesses. The absence of credit records, collateral guarantees and an organized business environment makes it difficult for SMEs to access loans and leads to the emergence of alternative finance. In addition, the need for alternative finance...
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