Also Read: Cryptocurrency Exchange Development RecipeWith the benefits in mind, let’s look at a list of P2P lending platforms that are doing well:
Peerform has been around since 2010. It was founded by a group of Wall Street executives and offers applicants with excellent credit rates as low as 5.99%, but the maximum loan amount is only $25,000. Pros:
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One of the giants in the P2P lending community, LendingClub was formed in 2007. Since then, it has issued over $50 Bn. in loans and connected more than 3Mn borrowers and investors. Through this, personal loan applications may borrow up to $40,000. Pros:
Founded by ex-Google employees, Upstart has been in business since 2012 and generated more than $6.7Bn in consumer loans. It is built on the mantra that “you are more than your credit score”, the company claims that its software can help identify “future prime” borrowers based, in part, on education and employment history, even if those applicants have sketchy or limited credit at the moment. Pros:
Founded more than a decade ago in 2015, this is the US’s first peer-to-peer lending app. Since then, Prosper has helped more than one billion borrowers in obtaining financing. Qualified applicants can borrow up to $40,000, with starting rates as low as 7.95%. Pros:
Funding Circle was founded exactly a decade ago and has 100,000 and more investors. The company has acted as a boon for small businesses, and has helped more than 80,000 small businesses access funding to reach their goals. So, if you have a business that’s been around for more than 3 years, have at least 660 FICO score, you can explore a P2P business loan from Funding Circle. Pros: