If you want to try out a new type of loan, then look no further than a person-to-person loan. These loans are becoming increasingly popular, and are a change from the traditional type of loan. If you want to know more about these unique financial products, then here is some advice about person-to-person lending.
What is a person-to-person loan?
A person-to-person loan is a loan that bypasses the normal system of banks or traditional lending institutions. However, this is not just a handout from friends or family, but rather a legal contract between people who want to borrow and invest. This new type of loan runs much like a betting exchange, in that people go onto web sites and seek loans, whilst others seek investment in people.
Why has this come about?
This type of product has come about due to the inflexibility and expense of traditional loans. Many people want an alternative to the traditional loan, and this type of loan gives them that opportunity.
What are the advantages?
The advantages of such a system are that people can find a loan that they might not normally be able to get hold of, and at a more competitive rate. As long as...
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