Small Business Borrower Success Stories
Small Businesses Borrower Success Stories
Maria Hopwood, The Stripes Company; David Potter, Ambic; Alex Corbett, Pizzanova
Moderator: Christine Farnish, Chair, P2PFA
The panelists, all small business owners who have borrowed from P2P platforms, reported a high level of satisfaction with their marketplace lending experience. In contrast to investors, who look to diversify, the panelists stressed the importance of building a relationship with one platform and using it over and over again.
Mr. Potter of Ambic, a producer of school furniture, discussed his experience borrowing from Lending Circle during the 2008 financial crisis and explained why he turned to a peer-to-peer lending platform rather than a bank. Ms. Hopwood, founder of an online retailer called The Strips Company, explained how she worked with Funding Circle to obtain capital to expand her business. Mr. Corbett, founder of Pizzanova, shared his experience as a customer of RateSetter, which gave him starting capital to open his street-food pizza business.