Question

what is a peer to peer loan?

- a loan from one entity electronically matched to another entity without a financial institution in the middle
- a loan given without review of the borrower’s credit report or credit score
- a short-term loan at high interest rates initiated by a worker who needs cash immediately
- a type of loan where the title to an asset is used as collateral

Answer 1

[AI-generated answer — Bot GPT 3.5]

A peer to peer loan is a loan from one individual or entity to another individual or entity, facilitated through an online platform without the involvement of a traditional financial institution. Borrowers and lenders are matched based on their financial needs and creditworthiness, and typically at lower interest rates than traditional loans.

Answer 2

select the correct answer.

Answer 3

[AI-generated answer — Bot GPT 3.5]

- a loan from one entity electronically matched to another entity without a financial institution in the middle