Watching the economy grow and benefit through online peer to peer finance has made people more and more aware of peer to peer (P2P) lending.
You are not hopeless, you have P2P lending
When Julia applied for a loan at a large bank, she was left feeling disappointed and hopeless. Not only did the bank take its time in processing her loan application, she was informed that due to her coffee shop being rather small and without significant turnover, she was not a suitable candidate. Needing a loan to buy new equipment and upgrade her business, she discovered peer to peer lending. Her loan application was processed, necessary checks were done and the money was transferred to her within a week.
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Have a big impact with your small business
With the banking industry focusing on large businesses rather than smaller ones, the peer to peer lending industry has found a niche. Small businesses are crucial in helping the economy to grow. Peer to peer lending allows these companies to apply for loans to buy new furniture, upgrade office space, employ more people, or to advertise. ArchOver in the UK focuses on small business lending and investing, and to date they have funded loans to the value of more than £10m, they have as well a lender insurance that help them secure numerous clients. Most business loans are funded up to 70% of the loan value and are secure loans. The loans are then secured by using the business as collateral or the applicant’s personal possessions. Rebuildingsociety is another platform that focuses on business loans. To date they have over 5,400 registered users and have funded £8.5m in loans. Business applying for loans vary too ranging from small established businesses to new business lenders from underprivileged areas. These loans are known as micro credit loans and they are usually non-profit loans with the purpose of building communities rather than to make money.
There is always a financial solution for your project
Albert from Ghana needs a loan of $90 to buy some new equipment to help him with his farming. Through an application for a loan with Zidisha, he is able to get an opportunity for investment through online lending, to help him grow his business and pay back his loan interest free.
As an online comparator of peer to peer lending, CompareLend.com assists investors and lenders in finding the right avenue for investment or loans. Through interacting with international platforms we endeavor to match borrower and lender criteria to suit individual needs. Saving time and effort through our easy to navigate website.