What is Peer-To-Peer Lending and what is it for?

17 October 2017

 

In short, peer-to-peer lending is an alternative to banks and is a private form of funding. It is most commonly used for secured loans (eg vehicle or equipment) or unsecured loans ie debt consolidation, holiday/travel, home improvements etc,

Investors provide funding and credit-worthy borrowers apply to use those funds via an on-line platform. An interest rate and establishment fees is applied based on the borrowers credit score and rating. Generally, borrowers with a good credit history will attract a competitive rate which may be cheaper than traditional banks.

As the growth of on-line services has increased over time, the world of finance has also had to keep up.
Peer-to-peer lending has grown in popularity as confidence grows in the product.

If you are seeking a personal loan and are keen to embrace a competitive alternative, we can assist. As an accredited broker, we have access to a well-known, trusted and regulated peer-to-peer lender. We can discuss the options and walk you through the process from start to finish.
We also have access to business lending and ‘green loans’ (but that’s a whole other story!)

Lainie Poon
Ph 0413 011 543 | 07 4041 2055
lending@kellywealth.com.au
Or PM me 

#peertopeerlending
#freshstart
#debtconsolidation
#rateestimatein5minutes

 

You may also like

Investment & Economic Snapshot April 2024

Investment & Economic Snapshot April 2024

As of April 2024 Highlights Risk aversion and moderating expectations for interest rate cuts pressure bond and equity markets. Australian and US inflation data releases came in higher than expected as services inflation remains elevated. Geopolitical tensions...

read more
September 2022 Newsletter

September 2022 Newsletter

Your Financial Guide Newsletter September 2022 This edition, we will introduce you to a new team member! We talk about the superannuation contribution rules that changed in July. We also talk about inflation, and the importance of being vigilant with regards to cyber...

read more
March 2022 Newsletter

March 2022 Newsletter

Your Financial Guide Newsletter March 2022 I'm sure when 2022 started, we were all hoping for a positive and less dramatic year considering the last 2 years. Sadly it's not the case, and like the rest of the world we are deeply saddened with he current plight of the...

read more