What is peer to peer lending?
Have you ever heard of peer to peer lending? Peer to peer lending is where you lend money to another person. The benefit of doing this is that you will get the interest payment sent to you as opposed to simply putting your money in the bank. Think about it, if you make a lousy .5% by saving money at the bank and you can make 6-9% by lending money to other people, which one would you choose? My guess is that you would rather make the 6-9% and that is why you need to participate in peer to peer lending.