What is peer-to-peer lending in rebuildingsociety
Every man thinks about taking credit on at least one occasion in his life, but few people know what is a peer to peer lending. Some people choose easy loans and others decide to take bank loans. In Poland, in contrast to the UK, US and other Western countries peer-to-peer lending, however, they aren’t very popular, although they are much more favorable.
What is peer-to-peer lending?
Peer-to-peer lending is a private or social loan. The main issue that makes them different from standard loans is that the whole process is not supported by the bank or any financial companies. These loans are granted by natural persons, who are users of the platform such as rebuildingsociety* The most popular is a credit for businesses.
What are the advantages and disadvantages?
First of all, this type of loan is very easily accessible. Lending capacity is not determined by rigid rules of banks. Social conditions of the loan are fully known before conclusion of the contract and they are clear, bright and free of legal loopholes. It is linked to great money saving due to the reduction of additional cost of the loan.
If you’re still skeptical about social lending, it is necessary to find 5 reasons why should you consider a social loan.
Another advantage is that you can borrow almost any amount, from small to huge sums. Anyone can be both the borrower and the lender. The risk is that the lender may fear that the loan may not be repaid despite the civil-law agreement. However, the portal rebuildingsociety* erifies all borrowers, and the contract is binding, so the risk of non-repayment of the loan is much lower.
How to take a peer to peer lending?
Portal rebuildingsociety* develops commercial loans to businesses by creating a community of lenders in the UK. It’s a way for easy financial assistance for people who want to invest in the development of your business and they do not want at the same time to pay many additional fees associated with the loan available in the banking companies. You can get easy credit for businesses, and at the same time you bear very small additional costs.
You can even borrow large sums from 25,000 pounds to 300 thousand pounds through the service. The only disadvantage is the time to raise funds, which can last up to four weeks. It depends on the base of lenders and accessibility of the opportunities or the funds for the loan. However, applications of borrowers are typically processed within 7 days, and most of the loans you can get during the three days. The repayment period is determined individually, it may be from 6 to 60 months
How to become a lender?
Being in the lender community is associated with investing. The amount that is lent is really an investment in a given company, which needs money for specific purposes and it returns the money with pre-established interest. You can just register and enter the amount that you want to borrow.
In this case, peer to peer lending has some disadvantages, because being a partner of a party and borrowing some money you should be aware of the risks. Your loan will not be covered by any compensation scheme for financial services. This means that if a company has borrowed money for the investment, which has been unsuccessful, you run the risk of losing all or part of the money.
Peer to peer lending is a big opportunity for both lenders and borrowers. Lenders have the opportunity to invest the money and to be a partner of the service supporting business and you can have an impact on the development of companies that have great potential for success. In contrast, the borrower can quickly and easily get the money needed to create a business and its development, and also to minimize all costs associated with taking a loan and avoid banks, the need to prove financial security in the repayment of the loan and success of the investment. All conditions are bright and clear, and the whole process is easy, fast and everything is run online.
Why am I writing about it?
Because I can see how popular are the so-called easy loans. I want you to show that there is another alternative for finding the money. Of course, each service is aimed at a different recipient and now the leader of No. 1 is Zopa*.
However, I want to introduce you to a few other sites that you can choose the right one. Also, it is worth to consider investing, because current interest rates cause that investments are pointless (except for regular savings accounts) and are not even able to protect the invested money against inflation.
At the time of writing this article, the company granted 153 loans to businesses in the UK worth over £ 10mlm.
Lucky strike for the rest
Everyone knows that the financial sector has very profitable business so companies offering peer-to-peer lending offers numerous affiliate programs to encourage people to promote this type of initiative. It just so happens that rebuildingsociety* pays for the command of the borrower.
Below, you can see the table of earnings.
Of course, the company also has a dedicated program for financial companies, so if you are a financial broker then you can extend your offer with peer-to-peer lending. The company boasts that they have been working with brokers since 2012. After registering on the site you will be able to register in the appropriate system for your company.
If you decide to invest or simply take advantage of the offer, you shouldn’t forget to search Google and read the opinion about the company and whether it is safe. I recommend you to read the LinkedIn profile at: www.linkedin.com/company/rebuildingsociety-com
The company provides its statistics on the website: /www.rebuildingsociety.com/stats/ and so at the moment is 7070 registered users.
NOTE: I present private opinions and I am not responsible for the readers' decisions. I always try to present current information but may no longer be up to date. Therefore, before making a decision, please verify them and consult a licensed financial adviser.