Meaning
P2P Lending (Peer-to-Peer Lending) is a digital method where individuals can lend or borrow money directly through an online platform, without involving traditional banks. The platform connects lenders and borrowers, handles agreements, and ensures secure transactions.
Also Read: Guide to P2P Money Transfers
Key Features
- Direct connection between lender and borrower
- Competitive interest rates
- Quick approval process
- Lower operational costs
P2P lending promotes financial inclusion by giving access to credit for those who may not qualify for conventional loans.
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