P2P Lending Is The New Age Solution To Borrowing
Although social lending was around long before banks, most of the current communal lending has taken off in recent years. This is due to our weak economic times and other sources of small loans drying up. Individual lenders and borrowers can connect through person-to-peer lending sites. This network is efficient, legal, profitable, and most importantly, helpful.
Peer-to-peer Lending person-to-person is becoming more popular. Investors are needed to provide small-business and personal loans for borrowers. P2P lending and emerging financial relationshipsP2P lending are the emerging social trends that directly or indirectly signal a change in high street bank relationships. You can also learn to invest as a private banker from The Home Bankers Club.
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Sixty-four percent felt they had been charged unfairly or unreasonably by their principal bank. Mainstream banks are built on authority and clearly defined consumer and institution roles, which create an unbalanced power relationship. P2P lending could be able to compete with traditional mainstream financial services.
This may prompt us to reconsider the traditional model of banking. Borrowers with good credit are now able to benefit from lower interest rates, bypassing banks or credit card companies. Financial gain is the main motivation for Peer-to-Peer lending.
Borrowing directly from people increases the perceived risks of using Social Lending investors who are competent using the Internet, financially savvy, stimulated by risk-taking or have a desire to control. Peer-Peer lending sites allow for financial exchange between two people, but they don't offer the same range of services and products as mainstream financial services.