According to Reserve Bank of Asia’s meaning: Peer to peer financing (P2P) is a type of crowd-funding used to raise loans that are repaid with interest. It may be understood to be the usage an platform that is online matches peer loan providers with borrowers to be able to offer short term loans. P2P financing is predominantly an web business in which specific and institutional investors offer funding to individuals looking for loans.
Loan providers spend money on qualified borrowers who will be in search of that loan additionally the peer lending (P2P) platform facilitates this match-making.
Finzy had been the peer that is first peer mortgage lender in Asia to possess sent applications for the P2P NBFC permit. Continue reading