The Big Read: Need funding? Ask the crowd and you may well receive

p2p

As some banks cut back business loans to small businesses amid a turbulent economic climate, more firms seeking to raise capital quickly are latching on to crowdfunding/ P2P lending which comes without the hassle of trying, often in vain, to impress venture capitalists with fancy presentations. 

In Asia, P2P lending volume grew 320 per cent between 2013 and 2014 making it the second-biggest region by crowdfunding volume after North America. P2P lending in Singapore is benefiting hundreds of SMEs by offering them an alternative business loan solution.

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