At P2P EASY, we plan to address these issues. We are building a platform that both borrower and lenders can trust. Before he list the loan, we run multiple checks on the borrower's profile, and his loan request. If we see any red flags ( unusual spending patterns or incorrect answers ), we do not list the loan at our site. We want to provide the loans to needy individuals who are genuine and can return loan amount on time. Like banks, we do background checks, validate home address, study credit report, and get a loan guarantor. We go beyond regular financial institutions to protect lender's investment.
For borrowers, we only need five set of documents to build your credit profile. If we need additional information, we might ask for additional documents. However, our process is quick, days not weeks or months. We rate all our borrowers, and then list their profile and loan details at our site. Please understand that the lender is investing in you because he put his trust in you and our platform. In case of default, we will approach collection agencies to collect the principal amount, interest, penalty, and late fees. If you intend to default, I suggest that you do not list your loan at our site. We do not take any bribe; we are here to enable individuals accomplish their dreams.
Most product owners claim that their products is useful to anyone and everyone. Well, we do not want to claim that. Our product, P2P EASY, is NOT suitable for folks who can raise money from their family members, as the interest rate on those loans is usually zero. As a lender, if you have never given money to anyone, then please start with a small amount at our site. Once we have earned your trust and confidence, then please invest more and spread the word. We want you to have a good night sleep, not worry too much about the money given to the borrower.
As a borrower, if you plan to ask your father or close relative for money and you are 100% sure that you would get money, then there is no point in registering at P2P EASY. We are trying to solve lending and borrowing issue for 90 % of cases, where lenders go through sleepless nights after giving money and borrowers are unable to raise cash for their needs.
In simple words, P2P EASY provides peace of mind to lenders, and help borrowers quickly raise cash.