A Blockchain P2P lending platform ensures the best risk-reward combination while providing credit to the users.
Loans are granted for different causes like education, healthcare, vacation, home improvement, buying an automobile, marriage, to purchase a property, and for consumer credit to procure various products.
The lenders have to follow some steps like registration on the platform, transferring money to the inbuilt escrow account, viewing all the active loan applications that have been received, and accepting a loan application for providing funds. They will benefit from digital documentation, hassle-free monthly repayments, an automatic clearing house facility, a standardized recovery process, and a detailed credit bureau report on all the borrowers.
The borrowers have to create an account on the platform, submit the necessary documents, apply for a loan, once it has been approved, they will receive the credit from the lender, repay the interest amount to the lender regularly, and fully pay back the loan according to the timeline mentioned in the loan agreement.
Exploit the favourable market conditions and start a Blockchain P2P lending platform sooner than later.
