When it comes to online financial technology (fintech) loans, there are two of the most popular loan services, namely peer-to-peer (P2P) lending and payday loans. These two services are ideal loan product alternatives if you are unbankable or have not met banking criteria.
But there are still those who don’t know that even though they both provide fresh funds, both of them have quite different business models. Are you one of them?
When you need loan funds, of course, you have to know the type of credit service needed. If not, it is clear that the application will be rejected outright. In addition, knowing the right type of loan service can also make expenses more economical. It’s as simple as choosing a loan with the lowest fees and interest but still safe.
Compared to bank loan products, generally the terms and criteria for applying for loans from fintech are easier …