RebuildingSociety.com was recently brought to my attention on Twitter. The company was founded in 2011 and launched in 2012. The website is still in it’s beta, but Rebuilding Society is positioning itself as an alternative to Funding Circle that is necessary in the peer to peer lending space. Here’s what the company has to say about itself:
After the banks were bailed out by the government they were instructed to re-capitalise. Unfortunately, this meant the withdrawal of credit lines to many UK businesses, who found that overnight their overdraft facilities were removed and loans were being called in.
Simultaneously, the suppression of record low interest rates with the stimulation of inflation (through quantitiative easing) has essentially taxed savers and pensioners who struggle to fight the attrition of their savings.
Despite the crisis, the government still fails to value productivity over speculation. Funds that were specifically allocated to reach SMEs have found their way into the shadow economy or property, adding limited economic value.
Banks serve their own interest, they create money out of accounting entries (read how banks create money here) and do little to help the economy.
To Learn More about Rebuild Society check out https://www.rebuildingsociety.com/
This article (RebuildingSociety Launches in UK) was originally developed by and is property of Peer to Peer Lending News. Checkout P2P Lending News for the latest social lending, microfinance and financial innovation news.
