Question
what is a peer to peer loan?
- a loan from one entity electronically matched to another entity without a financial institution in the middle
- a loan given without review of the borrower’s credit report or credit score
- a short-term loan at high interest rates initiated by a worker who needs cash immediately
- a type of loan where the title to an asset is used as collateral
- a loan from one entity electronically matched to another entity without a financial institution in the middle
- a loan given without review of the borrower’s credit report or credit score
- a short-term loan at high interest rates initiated by a worker who needs cash immediately
- a type of loan where the title to an asset is used as collateral
Answers
Answer
select the correct answer.
Answered by
GPT 3.5
A peer to peer loan is a loan from one individual or entity to another individual or entity, facilitated through an online platform without the involvement of a traditional financial institution. Borrowers and lenders are matched based on their financial needs and creditworthiness, and typically at lower interest rates than traditional loans.
Answered by
GPT 3.5
- a loan from one entity electronically matched to another entity without a financial institution in the middle
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