Have you heard of “Peer-to-Peer Lending”? Quite simply it is a platform that matches a borrower to lender(s). The concept is that it allows people to loan money to other people.
Many people don’t need investors to support their business endeavors. Getting a simple loan will do. The caveat is that getting traditional personal or small business bank loans is hard for most entrepreneurs. The reason it is so hard to secure a traditional loan is because bank loans require assets to back the loan. And most people simply don’t have enough liquid assets to back the loan they need. Several websites have been developed that host a platform that allow borrowers to directly seek loans from other people, which is referred to as peer-to-peer lending. And this can be a nice solution for entrepreneurs that need capital for their business.
If you want to explore if peer-to-peer lending could be a solution for you, we offer a free course that outlines what you need to be successful.
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