Question

Peer-to-peer lending options

a. Facilitate loans between groups of individual investors and individual borrowers.
b. Provide competitive loan terms to borrowers that do not have access to conventional loans.
c. Are accessed through the internet and require a borrower to have a credit report.
d. All of the above.

Answer 1

Peer-to-peer lending streamlines the process of borrowing by connecting individual borrowers with investors online, offering competitive terms and requiring credit reports (c).

Step-by-step explanation:

Peer-to-peer lending options facilitate loans between individual investors and borrowers, providing competitive loan terms, especially for those who may have limited access to traditional banking services. These lending platforms operate online and often require borrowers to present a credit report before a loan can be issued.

Unlike conventional bank loans, which may require income proof, a cosigner, or collateral, peer-to-peer loans streamline the process through digital platforms, connecting those who want to lend money directly with those who need to borrow it.