Peer-to-peer lending (P2P) is a way for people to lend money to individuals or businesses.
July 9, 2022
Generally speaking, the higher the interest rate someone will pay, the higher the risk
Peer-to-peer lending (P2P) is a way for people to lend money to individuals or businesses.
In this article we explain peer to peer lending, the business model used by Afroteller.
Peer-to-peer lending (P2P) is a way for people to lend money to individuals or businesses. You – as the lender – receive interest and you get your money back when the loan is repaid.
Peer to Peer (P2P) websites work like marketplaces. They bring together people or businesses that want to lend money with those that want a loan. It’s a way for borrowers to get funding without going to the traditional sources of finance, such as banks and building societies. Any money you lend out is automatically divided between lots of borrowers, but with others, you can choose who you’d like to lend your money to.
The interest rates on P2P lending are typically higher than those available from traditional savings accounts. Generally speaking, the higher the interest rate someone will pay, the higher the risk that they will be unable to repay the loan. With therefore keep our loan interest rates low at Afroteller and minimise risks by ensuring every loan is secured and thoroughly doing all necessary due diligence processes. We keep a percentage of every amount repaid by borrowers on a special account for purposes of cautioning risk in instances were the borrower fails to pay.
To get started lending at Afroteller:
Generally speaking, the higher the interest rate someone will pay, the higher the risk
Peer-to-peer lending (P2P) is a way for people to lend money to individuals or businesses.
Auto finance companies can expect the pandemic to impact four key areas as they work to address short-term needs and prepare for the future.
In the mortgage industry, early adopters of document automation technologies were underwhelmed with the results of their investment. The latest advancements in AI can cut the lengthy mortgage origination cycle significantly and reduce errors.
As the way we exchange value changes, taxation faces a pivotal moment. Historically speaking, taxes have been taxing. But new developments in the payments ecosystem – Open Banking, ISO 20022 – are about to change all that.
Afroteller is a peer to peer lending market place where lenders (Investors) meet borrowers. Lenders enjoy fantastic monthly interest while borrowers are certain of rapid loan processing at competitive rates.
Afroteller Limited is a registered Tier 4 Microfinance Institution regulated by the Uganda Microfinance Regulatory Authority (License No. 0187 ML). Afroteller is a registered trademark of Afroteller Uganda Limited a Company incorporated in Uganda (Uganda Registration Services Bureau Company Reg. Number 80020002982888).
Copyright © 2022 Afroteller Limited - All Rights Reserved