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Skip The Banks… Go For Peer To Peer Lending!
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Person to person lending or what is commonly called peer to peer lending, frequently abbreviated P2P, is a category of financial transaction which takes place directly between two individuals or “peers” without involving a traditional financial institution, like a bank. Usually P2P is for the most part a for-profit activity; this is what differentiates it from person philanthropy and crowd funding which involves creating connections between donors and recipients but the contributions do not make any kind of profit.
The growing process of person to person lending indulges folks to borrow a sum of money from an individual investor or maybe from a group of them, instead of a bank or any other credit union, so that they could back it on their feet. It was primarily established due to the benefits it presented to the lenders, including high returns for their investments and the ability to guarantee them. This was an exceptional idea that they couldn’t achieve when they gambles on the stock market. And it was fortunate enough that person to person lending affects the borrowers in a very positive manner.
Undoubtedly, “Peer to Peer lending and borrowing is the new financial solution that almost each individual need to consider.”
Here are a few reasons that depict why someone would want to invest their money using peer to peer lending:
• Having the right and the correct knowledge of where your money is being invested.
• You can invest with a minimum sum of money.
• Minimum interest rates.
• You have the chances to get the true diversification of your investment portfolio.
• There is no involvement of banks and this avoids your dealings with them.
Honestly, this concept of peer to peer lending and borrowing would have never been considered until a few years from now. The internet is the stage that not only made it happen but also made it a success over the years. The ever increasing sociability of individuals’ causes by the use of internet provides this unique and extraordinary way to invest and borrow money like never before.
Advantages of Peer to peer lending and Borrowing:
One major advantage of peer to peer lending is the no involvement of banks or other major lending institutions. The money that you borrow is supplied to you by private individuals who are just like you, and who initiate to fund part or your entire loan and they receive interest from your loan payments. Of course, there is no way in which you have direct contact with any of those individuals who contribute to your loan.
Another advantage is the way you can make money through individual to individual lending service, provided that you have a sufficient sum of money to invest into it. Later you will be on your way making interest on any money that you lend.
With peer to peer lending and borrowing, it is now the time to skip banks and invest in them.
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