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Finance, SME

How Peer-to-Peer Finance could benefit your business

Peer-to-Peer (P2P) Finance is one of those topics that can be tricky to understand. P2P loans are funded by multiple individuals or organisations all contributing money. They work just like normal loans, the main difference being they aren’t funded by banks. Instead, they’re drawn from a public platform that interested parties contribute funds into.

The main benefits of P2P loans are:

  • Faster: technology-focused systems allow businesses to get finance sooner.
  • Easier: it can be more straightforward for the borrower than other finance.
  • Exciting: avenues for interesting ventures that might not benefit from the traditional finance process open up.

As with all types of finance, there are limits with P2P loans too and the process isn’t necessarily a great fit for every business.

To find out more about your business finance options and whether P2P finance could be a viable option for yours, get in touch with your local ASC Director

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