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LAST UPDATED: June 4th, 2020

Peer-to-peer (P2P) loans are a viable option for business or personal loans if you do not qualify for or choose not to approach a bank for the funds. P2P Credit offers small business loans in the form of start startup or operating loans. The loans are available with fixed rates starting at 5.99 percent.

Small business loans can be used to add working capital to a current business, expand inventory, advertising, and other daily expenses. P2P Credit provides access to personal loans, debt consolidation, and loans for bad credit. P2P Credit helps business owners link up with the right match for a loan. Most lending and investing is done through Lending Club and credibly.com. Consumers who choose P2P should remember that they must have a credit score of 550 or higher.

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The Good

  • High Likelihood of Approval
  • Potentially Lower Interest Rates
  • Payment Calculator

High Likelihood of Approval

Business owners are more likely to qualify for a startup business loan through peer-to-peer lending than going through a credit union or bank. Larger institutions have stricter scoring criteria and are less likely to fund a startup company. While there are limited options for poor credit borrowers, there are still options available. A business with good credit standing will have better and more options.

Potentially Lower Interest Rates

Interest rates for small business loans are more appealing through peer-to-peer lending. It's entirely market-driven. The only thing that causes rates to move is investor and borrower demand in the platform. The lack of a bank, with its high overhead, skimming off the transaction, allows P2P Credit to offer access to providers of lower, fixed rate loans and cleaner fee structures than traditional financing products.

Payment Calculator

This is a helpful tool to determine what payments may look like with varying loan amounts and interest rates. By entering in loan amount, interest rate, and length of loan you can calculate based on these terms to help determine what you need.


The Bad

  • Lack of Information
  • Terms of Service
  • Sparse Business Loan Information

Lack of Information

P2P Credit lending has missing or lack of information on its website. The only way to contact the company is by filling out the form on the website or emailing them at service@p2p-credit.com. You will not receive a quick response by doing either. There is nothing about the company on its website including how it got started, how long the company has been in business, and what the mission of P2P Credit is.

Terms of Service

P2P Credit's term of services states that the rates, fees, terms, and all other details on the website are for informational purposes only. This information should not be considered binding. When applying for a loan, you will be redirected to other company websites, and their rates, fees, and terms are what will be binding.

Sparse Business Loan Information

The information for a small business loan is very brief and not detailed. The information given focuses on what the funds can be used for and explains that a business owner is more likely to qualify with peer-to-peer lending rather than with traditional banking sources.


The Bottom Line

P2P Credit is a free service and does not collect or retain identifying or sensitive financial information from its users. If you are interested in applying for a loan by using P2P-credit.com, you will be directed to other companies as potential lenders.

The website does provide some useful information about peer-to-peer lending and borrowing, but it's lacking in the fine details that matter. P2P lending is an alternative funding source that many small businesses use to get started and flourish. Interest rates are usually lower and the strict risk scoring criteria with traditional banking is not involved. It is more likely for one with poor credit to get funding with peer-to-peer lending.

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