Amount of credit: £1,800 for 24 months at £135.47 per month. Total repayment of £3,251.27. Interest: £1,451.27. Interest rate: 65% pa (fixed). 88.1% APR Representative.
Peer to peer lending is an alternative to many traditional types of loans, such as those from high street banks. With a peer to peer loan, borrowers may not get their money from large financial institutions. Rather, their loans may be funded by private individuals who invest in the loans to make a profit. These loans are usually facilitated by companies whose websites match lenders and borrowers, provide credit-modelling services, and service the actual loans.
Because they are applied for online and are financed by individuals rather than banks, peer to peer loans can often cut out some overhead and offer more competitive terms to consumers than they could get at high street banks. They also might be able to offer loans to customers with less-than-perfect credit.
Nevertheless, a low credit score might still preclude you from getting a peer to peer loan. Customers applying for peer to peer loans must also wait while other individuals finance their loans
At On Stride Financial we are not a peer to peer lender, but we are a direct lender with an online application. We know that hardworking people can have trouble getting access to the funds they need, whether through credit or loans. Many people who need funds also don’t have time to go through the lengthy process of applying for a bank loan.
With On Stride Financial, you can apply at your convenience through our online application. And we consider every application, even from individuals with less-than-perfect credit.† If you are approved, you could borrow over 1 or 2 years depending on the amount borrowed up to £3,000 to help you take control of your future.
If you'd like to learn more about On Stride Financial's online loans, head to our FAQ page for answers to many common questions. You can also contact us via email or over the phone. Our customer support representatives are available from 9:30 a.m. – 6 p.m., Monday – Friday.
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