Crowd Lending
Crowd Lending, also known as peer-to-peer lending, involves borrowing money directly from a large number of people without the intermediation of a traditional financial institution.
Benefits
Crowd lending can be cheaper and faster than traditional loans. It offers more flexibility for both borrowers and lenders.
Frequently Asked Questions
What is peer-to-peer lending also known as?
Peer-to-peer lending is also called crowd lending. It`s where you borrow money directly from other people online, not from banks.
Why is peer-to-peer lending popular?
Peer-to-peer lending is popular because it`s easy and fast. Borrowers can get money directly from others without dealing with banks.
Why is peer-to-peer lending risky?
Peer-to-peer lending can be risky because there`s no bank involved. If the borrower doesn`t pay back, the lender might lose their money.
Key Takeaway
Crowd lending is a modern way to borrow and lend money. It cuts out banks and brings people together online to deal with money directly.