For a second, let’s assume that you need to take out a loan. Most likely, your first instinct would be to head over to a local bank that you trust and complete your request.
More often than not though, problems arise before you even finish furnishing a form, such as your bank not willing to lend you money because you lack some of the requirements they need from you.
Or worse, while reading the fine print about your loan options, you discover that the interest rates your bank is going to charge you once you repay your loan are just too high.
On the opposite side of the spectrum are people who have the money. They would normally approach your bank to make a deposit. However, because of today’s increasingly low interest environment, they discover that their returns have become depressingly underwhelming.
Basically, peer-to-peer or P2P lending acts as the bridge between you and these people.
Borrowers like you can interact with lenders using a P2P lending platform like Crezu PH so that you can easily request for a loan that will fund your needs. Lenders are able to see your loan request and decide if they want to loan you the money.
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