Three Types of Lending

Three Types of Lending

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Have you ever needed to borrow money for a certain situation? There are as many types of loans as there are needs for them. Here are just a few to give you some ideas.

Small Business Loans

Small business loans are aimed towards the entrepreneur or start-up company. They provide working capital, a means to buy equipment or lease an office, or even in some cases make paying employees possible. It’s important, however, to choose a reputable company such as Simple Path Financial, so that you don’t get scammed or hit with terms you can’t repay.

Peer2Peer Loans

Peer lending platforms are a relatively recent development. They connect people who have capital with people who need money, but are not banks – it’s more like social lending, with interest.

Personal Loans

Smaller personal loans remain one of the most widely used loan options available. Companies like Simple Path Financial offer loans to consumers with easier terms and are sometimes not dependent on credit, only repayment history. Many people use these to buy gifts, pay for larger purchases, or get through a personal emergency.

Other types of loans exist for other needs, so if these are not for you, research the possibilities and you are sure to find a type of loan that suits your situation.

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