Social lending, or peer-to-peer lending (abbreviated P2P lending) is a financial solution where both borrowers and lenders are private people. What are the key benefits, and how to proceed?
Social lending works like an easy investment solution for people wishing to lend money. For example, a 5,000 Chf loan over 36 months may bring up to 500 Chf with an interest rate of around 6%. Generally using a financial platform, the lenders can choose which project to invest in. The main problem with lenders using perr-to-peer lending is the security. Indeed, the prosecution procedures charges are not covered, and the risk of a payment default is quite high in this kind of investment.
For the borrowers, the social lending represents the opportunity to get an interest rate sometimes lower than what a loan company could offer. However, a social lending has some drawbacks:
At CreditLoan, we often help people having problems with peer-to-peer lending. If you are interested by a low interest loan, we suggest you to compare offers between regular loans and social lending. Indeed, at CreditLoan, we can offer you very interesting conditions with a low interest rate. Do not hesitate to ask us for a free offer and feel free to compare it with a social lending solution.
Specialized in loans for people living and working in Switzerland, we can offer you gret opportunities and alternatives to peer-to-peer lendings. Ask us for a free offer: our team will contact you with a non-binding quote to provide you with more informations about what we can propose you.