Peer to Peer Lending

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Peer to Peer Lending

• Presented by

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What is Peer to Peer Lending?

• It is a kind of lending that allows rich people
  to bypass traditional lending institutions and
  lend directly to people
• This form of lending has gained popularity in the
  recent past
• It provides people easy access to cash
• It is also know as Social Lending

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How does it work?

• Many websites offer peer to peer lending facility
• You can also find peer to peer lending outlets in
  your location
• To lend money earn interest, you need to open
  an account
• To borrow money, you need to check interest rates
  and get quote.

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Contd.

• Peer to Peer Lending websites contact you in 48
  hours after getting a quote.
• These websites update you regarding the
• status of your loan
• At what rates loan will be available to you
• time period of repayment
• After loan approval, they transfer money directly
  to your account
• Credit ratings matter a lot in loan approval
  process

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Credit Ratings

• A person with good credit ratings get loans at
  low rates.
• It is difficult to approve loan for a person with
  poor credit ratings.
• If loan gets approved, he has to pay high
  interest rates.
• To read more about Peer to Peer Lending, please
  visit http//www.loandocreviews.co.uk/what-is-peer
  -to-peer-lending/