Where to Go from Here?
Online peer-to-peer lending is a relatively new and recent phenomenon. As with almost any new industry, there were bound to be kinks and rough spots that needed to be smoothed over. So, while this funding option offers a lot of promise, it is not without risk to both the borrower and the lender. Be smart and do your homework.
Bottom Line: P2P loans are not easy to get, and the interest rate can be astronomical, so be careful. Indeed, P2P lending issues illustrate why banks are still professional and excellent lending options. Carefully check out the P2P site you choose.
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