What is Peer to Peer Lending?
Peer to Peer (or P2P) Lending is an alternative form of financial product which matches investors and borrowers via an online platform. The funds borrowed are sourced through a number of investors who have invested varying amounts into the lending platform. Loans are typically unsecured, the interest rates varying dependent upon the business, its trading history, financial performance, loan amount and term.
How does Peer to Peer Lending work?
An application for a loan is made via the relevant P2P Lending platform. A series of questions and information are required before the platform makes a decision regarding the application. Whilst this can be handled directly by businesses seeking to borrow funds (and often is), by applying to the lending platform directly, those businesses do not benefit from professional funding advice may not necessarily be making the best decisions or may encounter issues during the application process.
Our team have the experience and relevant market knowledge to advise businesses whether or not P2P lending would be the most appropriate route for securing funding. By working closely with our clients we get to know and understand their businesses and, if P2P lending is the recommended way forward, we are able to present the application on our clients’ behalf, with the benefit of knowing and understanding both our clients’ businesses and the lending market inside out.
For more information on Peer to Peer Lending products or indeed any of our other products and services, complete the Get A Quote, Contact Form or email info@harrisonsfinance.uk.com. Alternatively simply telephone our national rate number 0845 601 5343 or contact your local Harrisons office, details of which can be found within the Contact Us section.
