Known as peer-to-peer (P2P) financing, it is a platform where two individuals interact to buy or sell goods and services directly with each other. As part of this sharing economic model, short-term peer-to-peer transactions allow individuals to share the use of assets (money, spare rooms, cars) and services or to facilitate collaboration with one another. As of today, we have witnessed an unprecedented level of growth in the peer-to-peer economy over the last 5 years thanks to technological advancement.
Platforms like Hap2py link potential borrowers to investors with spare cash without having to go through banks, thus evading their unreasonably high-interest rates. However, an efficient online platform such as Happy Penny which can conveniently connect borrowers and lenders is required in order to enable this type of transaction to happen.
As a platform that conveniently connects buyers (those who want to borrow money) and sellers (those who want to lend money), borrowers are able to borrow the needed funds at significantly better rates than those offered by conventional financial institutions like banks which charge exorbitant rates. In other words, Hap2py is more affordable and ethical than banks.
What is ethical lending?
Ethical lending is essentially a mode of lending which allows lenders to generate extra income from their spare cash by extending financial assistance to those in a financial struggle. Other than enabling lenders to generate a passive income, P2P lending is able to help alleviate the financial woes of borrowers and help them get out of debt.
As a lender, you will be able to use the passive income generated from the lending scheme to invest in financial assets where you can gain additional revenues. By cutting down on unnecessary costs, Hap2py is able to offer borrowers rates that are comparatively lower than those offered by banks.
Instead of paying for the rental fees of office space, salaries for 100+ employees and other unnecessary costs, P2P platforms like Hap2py are able to pass the savings on to our borrowers. At Hap2py, our mission is to create a happier society by alleviating the financial challenges of the underprivileged through our P2P model that champions ethical lending. After all, what can be better than knowing that your investment results in a positive change and impact towards the society?
Apart from competitive rates, the transparency of the P2P sharing economy allows you to see exactly where your money is heading to.
By investing your additional funds in our platform, your money enables aspiring business owners to establish small and independent businesses which they previously couldn’t afford, young families to own their very first home and – perhaps most importantly – helping countless others to achieve greater financial freedom.
Having learned about P2P economic model and its positive implications on the society, here are three key takeaways that we can take note of from this article:
If you are still looking for ways to invest your money in a safe platform which promises attractive returns, look no further than Hap2py. Reach out to us for further enquiries.
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