San Diego, CA -- (SBWIRE) -- 03/10/2014 -- Social media experts have all confirmed the world is exploding with social interaction, and one of the leading proponents, who believes this is even more so pronounced within the financial markets, is Hugh McClung, a leading American P2P Consultant.
“Beginning with the financial crisis of 2008, banks have moved away from consumer and corporate lending, a move that has seen people borrowing and lending more via the internet called P2P Lending,” said McClung, a new concept that’s responsible for USD$10 billion of the global market.
P2P facilities connect people who want to lend money to those who need to borrow money. Quite literally, the borrower determines how much he or she needs to borrow, define the purpose of the loan, and post the listing online.
“Further, this trend is allowing investors to see returns that historically only banks and professional investor might enjoy,” added the P2P expert.
Believing it is possible to realize a relatively low risk 8 to 12% return on social lending, McClung said even governments are supporting this trend.
“Right now, there are new laws have been promulgated to allow certain internet platforms to solicit money without the normal SEC restrictions,” said McClung, who further noted that even the UK government is directly funding SME loans which might total USD $ 15 billion in five years.
To support crowdfunding and p2p investments online facility and make it more widely accessible to a lot more people, there is a new P2P Investment app that is out.
According to McClung, he’s “pleased with this new P2P Investment mobile app’s development, which takes on a magazine approach in a mobile format and blends fresh news, insights and advances in P2P Lending which allows investors to see what is happening around the world and make money on the trend.”
The mobile app is organized in a glossy magazine format which is rated number one in its finance category and called “ world class”. The reference has over 1,000 articles on P2P news around the world featuring the top 2 lenders in the P2P world, a top advisor and one of the leading P2P funds.