The background of P2P loans

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Private individuals have always lent money to each other . However, it was not until 2005 that the first P2P marketplace was launched in the UK. This was the start of the now popular concept of turning to other private individuals for loans. In the days before, this option was only available through banks.

Since the early 2000s, more and more P2P platforms have been developing. Today, their total market value is around 68 billion euros – and the trend is increasing.

What are the advantages of peer-to-peer lending?
There are a number of advantages that distinguish peer lawyer database -to-peer loans. For borrowers, these primarily consist of the fact that they have a chance to obtain new financial resources even if their loan application has been rejected by a regular bank.

Of course, there are also significant advantages for the lender. They can invest in loans as private individuals and benefit from the relatively high interest rates. This is a sensible way to invest money, particularly in these uncertain times. It should also not be overlooked that small investment amounts are also possible within the framework of the P2P concept.