A few years ago, borrowing money from a friend, a relative, or a neighbor was one of the few ways you could get financing out of the bank. However, thanks to the explosion of fintech companies, the options for obtaining credits have multiplied. One of them is to go to the P2P or crowdlending loan platforms, where individuals who need financing and people who want to invest in their projects to get profitability meet.
P2P loans, also called between individuals, are loans that are granted through crowdlending platforms that connect users who need financing with investors who want to lend money to obtain profitability. Through these platforms, investors can consult the different projects and decide which of them want to contribute capital according to their level of profitability and risk.
The requirements of payday loan support are more flexible than those of bank loans.
Before applying for P2P loans it is important that we know what the application and grant process is. These are the steps we must take:
In addition to the interest rate applied, if we ask for loans between people we will also have to pay a commission to the P2P credit platform as compensation for their efforts.
Investing in P2P loans is an increasingly popular alternative in Spain to obtain returns on our capital due to the low profitability offered by other financial products. Through these platforms, we can decide to finance different loans according to the risk profile assigned by the platform and the profitability they offer. This is how the investment in P2P loans works:
We must bear in mind that the capital invested in P2P loans is not guaranteed. The platforms usually take the usual measures in case of default, but there is a risk of losing part of our capital invested.