Application for a loan in a bank is a tedious process. Banks usually have stringent rules for lending to a borrower. Most of the time they treat borrowers as a number on their credit report.
This rigidness has resulted in huge set of borrowers being neglected by banks. Some of these borrowers are provided financing by NBFCs but still a large number of borrowers are left on their own. A new lending methodology has come into forefront in recent times. Peer to peer lending is quite different from normal banking. These platforms are quite flexible compared to banks and don’t treat a borrower just as a number on their credit report. The article on LoanKuber.com made me inform about differences between peer to peer lending and banking. This article on http://www.loankuber.com/content/peer-to-peer-lending/differences-between-bank-lending-and-p2p-lending/ proved to be very informative and beneficial to me and if you are a fellow borrower you should definitely give this article a read.
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