Peer-to-Peer (P2P) Lending allows to connect borrowers, individuals or businesses, directly to lenders (investors). P2P lending is also known as "social lending" or “crowd lending." P2P borrowers to get funding without going to the traditional sources of finance, such as banks and building societies. The interest rates on P2P lending are typically higher than those available from traditional savings accounts.
Platforms that provide P2P lending have greatly increased its adoption as an alternative method of financing. On some websites, any money you lend out is automatically divided between lots of borrowers, but with others, you can choose who you’d like to lend your money to.
John O'Connor, IOHK director of African operations, shares the news about the first set of loans disbursed to Kenya SMEs over the weekend, highlighting the incoming potential of Cardano's RealFi.
11 months ago