Rainfin Loans – Social Lending Pioneer

Overview

With the global recession from a few years ago causing a ripple effect worldwide, forcing banks to become more cautious with their lending habits, many consumers were left without many options for obtaining finance. Qualifying for a loan has become slightly more challenging than before. Micro lenders have come onto the scene and have challenged the traditional ways of doing business, by adopting differing ways as compared to commercial institutions. The finance-seeking loan requirements have been significantly altered by micro lenders. An institution that has contributed to the transformation of the lending industry is Rainfin Loans. Rainfin Loans can safely be described as an online social lending marketplace, which links borrowers directly with lenders. The formalised peer-to-peer lending process works on a community principle. Individuals are able to lend to other people without the need for a bank, resulting in a seamless, transparent process. In South Africa, lending rates are capped, and it’s the avoidance of fees that makes peer to peer lending such an attractive option.

Benefits of using Rainfin include a lower interest rate, portfolio diversification, responsible investing and crowd-funding. The entity offers lenders the possibility of investing in a fixed return asset class. Rainfin also allows individuals to invite people in the wider social networks, which will increase the combined funding potential. For access to these benefits, registration on the Rainfin peer-to-peer traders list is essential.

Rainfin’s lending solution has become a community where individuals can safely, quickly and cheaply borrow and lend from and to people around.