Blockchain-based P2P lending platforms empower individuals financially and also help small businesses to grow and prosper in the market.
Borrowers can obtain credit for numerous purposes at very low interest rates, the loan procurement process is monitored on a real-time basis, the absence of any elaborate procedures, and minimal operational risks. They need to undergo KYC verification, submit their Proof of Income and Bank Account Statement.
Lenders will deal with only creditworthy borrowers, get regular returns through EMI and interest, maintain their privacy, recover the credit in a short turnaround time, reinvest their monthly returns by making use of the concept of compounding, and obtain access to personalized loan monitoring tools in the form of an exclusive analytical dashboard.
The platform ensures a trustworthy financial experience, secure processing of documentation, automated EMI collection from the borrowers, and follows a detailed credit recovery process.
Hence, design Blockchain-based P2P lending platforms and become a trendsetter in the industry soon.