Gone are those days when an individual couldn’t obtain loans because he/she didn’t have a credit history—the first screening criterion to obtain loans from banks and financial institutions. The blockchain technology has now enabled fintech companies to directly connect borrowers with lenders, providing an alternative to get loans even if burrowers don’t have a credit history. One such lending within the fintech industry is peer-to-peer (P2P) lending, which enables borrowers to obtain loans directly from lenders without selling their cryptos; thus, cutting out the middleman such as banks.
The global peer to peer lending market is valued at around $ 15 billion in 2018 and the market is poised to grow at CAGR of over 19% to surpass $ 44 billion by 2024 due to increasing number of borrowers over the past few years. Peer to peer lending market allows borrowers to directly interact with the lender with the P2P lending platform.
Taking a look at the industry, one decentralized lending platform that is like a game-charger is the P2PClub lending platform. They are a blockchain and AI-powered lending platform. The P2PClub platform is user-friendly and easy to navigate. Investors offer loans and earn competitive returns.
If you are passionate about taking low interest loan or you know someone who's in dire need of a loan to solve his/her financial needs, then visit https://p2pclub.io/en/ to get started.