A peer-2-peer loan is an alternative to traditional lending, in which the borrower receives a loan from another individual rather than a lending institution. Those with money to invest for profit can join a P2P lending network and give out loans to those who may not qualify elsewhere.
Michal Herzenstein, professor of marketing at University of Delaware, said that peer-2-peer loan is a nice outlet for both borrowers and lenders, and it’s going to be more and more prevalent in the future.
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