P2P Credit offers personal loan access to borrowers with bad credit. Traditional banks often deny loan applications from borrowers with credit scores less than 680. However, with peer to peer lending, you are likely still eligible to get a loan with a fair interest rate – even if you have bad credit.
If your loan application has been denied because of your credit history, or if you are unsure of your credit score, apply now or check your rate to see if you qualify.
Traditional banks have high overhead and narrow margins which makes it unappealing for them to extend credit to borrowers with bad credit. P2P Lending is different. Peer to Peer loans are funded by individuals (or groups of individuals) through efficient online platforms with very low overhead. This is the key difference which makes P2P personal loans for bad credit an attractive option. When traditional banks have no choice but to decline a loan application, P2P lenders can offer a financial product with reasonable, fixed interest rates.