Business loan provider Folk2Folk shares 6 reasons why businesses should consider Peer 2 Peer lending
1. In many cases P2P can help provide finance where other providers have refused.
2. P2P take a holistic view of the business, the exit and borrower and in matters of secured loans value the property or assets as part of the lending criteria to make an offer.
3. In many cases P2P can provide a decision in a matters of days rather than weeks and send the funds within a month.
4. Borrowers can choose depending on the platform to opt into an interest only repayment or a capital and interest repayment, making finance more flexible to suit their needs.
5. Rates and fees are fixed and will not change mid-term.
6. Borrowers can repay early if they choose to.
