Today, we’ll be looking at some of these platforms and what makes them stand out. But first, let’s look at the peer-to-peer lending market. What is it?
Peer-to-peer lending, also known as crowdfunding, or social lending, is a form of borrowing where instead of a bank, borrowers connect directly with individual lenders through platforms.
Unlike traditional financial institutions that demand mountains of paperwork and take forever to approve a loan, peer lending platforms require less documentation and approve loans faster.