Gone are the days when people had to go through extensive screening and application process before applying for a loan. Today, peer to peer lending platforms enable investors and borrowers to directly deal with each other.
Canada only has five major banks that control most of the financial industry. With the entry of peer to peer lending, the people will have more mediums to arrange capital. Peer to Peer Lending enables lenders and borrowers to help each other by investing in someone that needs money. Peer to Peer platforms like Husty, offer many benefits to their customers, including:
Creditworthy Borrowers: Peer to peer platforms verify the income and debt levels of the borrowers. They carry out historical credit profiling and advanced fraud prevention measures. Depending upon their present and past credit, the risk of investment and suitable interest rate and decided for individual borrowers.
These platforms run on the trust of investors, which is why if a fraudulent borrower is spotted by them, they are immediately eliminated. The motto is to keep the platform secure at all times.
Diversified Risks: Peer to peer lending provides diversified risks to the investor. Investors at Husty loan their money to multiple borrowers. Even if one of these borrowers fails to pay, the losses are manageable. Moreover, the interest received by the investors on his other loans can cover up for it. At Husty, you can invest as little as $100 on a loan, and stay stress-free.
Reasonable Interest Rates: These lending platforms take many factors into account when deciding upon the interest rate to be paid by a borrower. Borrowers with a bad credit score can manage to get loans at a reasonable interest rate if their history, earnings, and education qualification reveals that they are reliable borrowers.
The motto of these platforms to help both lenders and borrowers, and providing low-interest rates is an essential step towards their welfare.
Solid Returns: It is the dream of investors to get a consistent return on investments without a high risk of losses. At Husty, borrowers make monthly payments to investors on the loan taken. These payments are automatically debited and sent to the investor’s account and the compound earnings can automatically be used to reinvest. With the help of peer to peer lending, you can multiply your money with consistency.
Peer to Peer lending platforms is an integral part of the finance industry in the USA and the UK. It is believed that over the next decade, Canada will catch up with the trend and people will be more inclined to engage with peer to peer lending services, enabling optimal use of resources at the individual level.
Banks are usually very strict in their lending procedures, making it difficult for borrowers to loan money without getting deep into debt. Husty is easily accessible to borrowers and investors. Husty is a peer to peer lending platform found by Tefari Bailey, who wanted to create an innovative platform for buyers and lenders to help one another. It offers low-risk investments and loans with reasonable interest rates to investors and borrowers, all across Canada. To learn more about the services we offer, click here.
