Peer to peer lending

 Peer to peer lending is also referred to as crowd lending or social lending. It was first introduced in the year 2005. There are many popular p2p platforms available in the marketplace. With peer to peer loans people can borrow loans from lenders directly eliminating the middleman. These platforms have been adapted highly as an alternative to traditional financing options. Each platform has its own unique terms and rates which allow transactions. These providers set a variety of interest rates based on the applicant’s creditworthiness. If one wishes to borrow funds, these platforms can match them up with individuals who are willing to lend money to them. 

The providers that act behind the scenes are known as platforms and they play the role of intermediaries between the lenders and the borrowers. These p2p platforms offer low interest rates compared to the traditional loans. But this depends on different factors including the applicant’s credit rating. Individuals who have good credit history with no past issues can get some of the great deals on these platforms. Whenever someone applies for a loan their credit is check through a credit reference agency and the applicants have to pass the provider’s own set of assessments. Anyone can apply for peer to peer loans whether individuals, businesses, property developers etc read more visit our website.