12 Sep Peer-to-Peer Lending. An increasingly popular substitute for searching for expert investors is peer-to-peer financing.
Fintech web web sites like, SocietyOne, MoneyPlace and Harmoney, are created to cut right out the finance institutions and “connect investors who desire a far better return on their funds with creditworthy people and organizations who would like a straightforward, competitive loan. ”
While these websites may actually bring loan providers and borrowers together, they really perform the exact same work as a bank. The connection just isn't direct – the platform will act as an intermediary and costs fees to both parties.
To borrow from the peer-to-peer financing platform you’ll need to make an application for that loan and pass a credit check, simply that you can afford to repay the loan as you would with any other finance provider, to prove.