When it comes to financial needs, not all individuals have a good credit score. As a result, it becomes increasingly difficult for them to avail of a loan from a traditional loan provider. Best peer to peer lending (P2P) is a unique and viable option for those who have a bad credit score and are seeking a financial loan.

P2P lending is a type of online-based platform wherein individuals or organizations can lend and borrow money directly from each other without involving any kind of financial institution or intermediary. This type of lending offers several distinct advantages and benefits over traditional loan providers. The most prominent benefit of P2P lending is a higher degree of flexibility. Unlike banks, which impose stricter regulations and interest rate caps, lending via the P2P platform allows the lender to set the terms and conditions according to his or her own preferences. This means that the interest rate can be more advantageous to the borrower, helping them to repay the loan over a longer period of time.

Another advantage of P2P lending is that it offers borrowers a chance to build their credit score. As repayment of the loan can be done in increments, the borrower has an opportunity to demonstrate regularity in taking out and repaying loans