As the credit crunch continues, more and more business owners and entrepreneurs are turning to less traditional methods of business financing. Usually, the requirements for receiving these non-traditional business loans are not as strict as bank requirements, even during times of a booming economy. Now, as people who would normally qualify for bank loans are facing bank denials, the various non-traditional business financing sources are experiencing an influx of qualified applicants.
Peer-to-Peer Lending
Wikipedia describes peer-to-peer, or P2P lending, as a lending system that “…occurs directly between individuals (“peers”) without the intermediation/participation of a traditional financial institution.” Read the rest…
