At PeerCredit, we believe that money should primarily work for people and their communities. Loans with friends can help you keep more money within your social network.
Lending to a friend or family member means investing meaningfully. You are helping your close ones get a fair and affordable loan while you earn reasonable returns.
Borrowing from a friend or family member means that you pay interest directly to the person close to you instead of to a bank. You can agree on a fair interest rate that is satisfactory for both parties.
Lending between friends of course requires some effort, but it will pay off. We want to make loans between friends easier and more secure.
Who can benefit from Friend Loans?
Anyone who wants to improve their financial situation and improve financial freedom. If proceeded carefully, friend and family loans can help people to keep their money within their communities and free themselves from unpleasant banking procedures.
Nowadays ever more creditworthy people are finding it hard to get a loan at a fair interest rate just because the credit scoring procedures of banks are out-of-date and not adapted to the changing working environment and lifestyle of many people. Young people with no previous credit history, self-employed and small business owners lose out no matter how responsible they are.
On the other hand, people who have savings to invest earn at best 1% p.a. on their saving accounts, despite banks lending their money to borrowers at an average rate of 10 to 20%. P2P lending removes the middleman and brings greater returns for lenders and reduced interest rates for borrowers. Friend loans help you and your close ones to make more of your money.
Ready for your friend loan?