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No Banks Needed: How P2P Lending Is Turning The Business of Loans Into Something Personal

No bank required how peer-to-peer is changing the lending landscapeFrom -

"You can get actually a better deal by looking at people around you, looking at your community," says Soul Htite, the founder and CEO at Dianrong, a peer-to-peer lending company based in Shanghai.

Acting as a broker between lenders and borrowers, peer-to-peer lenders say they can offer a better rate to both sides without the weight of regulation and the expensive branches that typically make high street banks so cautious.

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Editor’s Notes:

  • In the early going, peer-to-peer companies primarily attracted retail investors, but now with the growing popularity of these platforms, hedge funds and major institutions have began investing in P2P loans.
  • China is getting heavily involved in peer-to-peer lending, the P2P market in China is growing significantly (20%) each month.
  • P2P lenders like Prosper and Lending Club say that they can offer investors and borrowers a better rate without the heavy hand of regulators and the expenses of physical brick and mortar branches.

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Peer to Peer Lending and Private Lending Info