UK Crowdfunding association comments on Chancellor's statement
We were delighted to read the details of the Chancellor’s statement extending ISA eligibility to peer to peer and peer to business loans, and committing to exploring the inclusion of bonds offered via crowdfunding platforms.
This comes less than a week after the FCA published their new rules on both investment and loan based crowdfunding, and is a further sign that the industry is coming of age.
The UK Crowdfunding Association has a number of loan based crowdfunding platforms amongst it members, including peer to peer and peer to business lenders as well as those issuing debt based securities such as bonds and debentures for projects and companies.
The extension of ISA to include these innovative products is good for the industry, good for the ISA brand and of course good news for individual lenders and investors looking to move their money to directly financing people and businesses in the UK.
UK Crowdfunding Association
20 March 2014