News

Proplend cited in Parliament as exciting new P2P platform

Published on March 19, 2015

Adam Afriyie, MP for Windsor visited the Proplend offices on Friday February 27th, 2015. On follow up to the visit, Proplend was mentioned by Mr Afriyie, in the March 17th, 2015 Thames Valley Technology Backbench debate in the House of Commons:

“Just last month, I visited an exciting new company in my constituency that is at the forefront of a sea change in the way finance is raised for property development. Proplend is a peer-to-peer lending site for property owners. It allows them to find alternative finance, and to circumvent the tightly controlled financial services industry, which in many cases is still too worried about the risk of lending to smaller clients because of the bureaucratic burden of doing so. That is not to say that the banks and the big corporates do not have a place among the new lenders, but for the first time in 100 years, we have seen new challenger banks begin to appear on high streets. That is pretty significant, because challenger banks are able to appear on the high street only because of the digitisation of banking. The overheads are so much lower and the ability to monitor, regulate and provide services is so much easier through technological means.”

Adam Afriyie, MP -Backbench Committee Debate: Thames Valley Technology Sector

For more information on the debate visit: http://www.publications.parliament.uk/pa/cm201415/cmhansrd/cm150317/halltext/150317h0001.htm#15031744000169