Peer to peer funding

• P2P lending companies operate online
• They allow individuals to lend money to other individuals or businesses
• Lenders say how much they are willing to lend with a indication of the amount of interest as well
• Borrowers say how much they want to borrow and give Some info on why they need to borrow it and how long they need it for
• Lending companies assess how risky the borrower is and matches them with appropriate lenders
• Peer to peer loans usually have low rate of interest than bank loans
• Pro- business can get acces to funding within a week once approved