Before Peer-to-Peer Lending
Lending is not a new concept. It first started as financial relations between individuals, based on trust. Then, special markets for credit started to appear where the main purpose was the exchange of money and goods. Customers were allowed to buy anything by using deferred payments. Sometimes the payments were held by different people. As time went by, traditional banking services stepped in and made the process fairer and more protected. But somehow the connection between borrowers and lenders fell apart.