The direct loan between private individuals, increasingly widespread in Italy is the practice of accessing social credit and that is convenient
In Italy too, private individuals begin the run-up to alternative financing practices, increasingly virtual and aimed at eliminating intermediaries such as banks or credit agencies. In addition to the possibility of comparing and choosing the most convenient personal loans, the network also allows direct loans between individuals.
Main interest rates
To circumvent the incidence of the main interest rates, of which one can become aware thanks to the statistics of the Bank of Italy, even Italian loan applicants, as already happened for the Chinese ones in 2008, attempt the path of direct and autonomous lending managed from home through access to the internet.
The idea, which dates back to 2005, is of Anglo-Saxon origin and consists of a real operation of direct connection between the creditor and the contractor. The latter can, therefore, avoiding the steps of bank or financial intermediaries, significantly reduce the costs related to agents and meet significantly lower interest rates.
The mediation work continues to supervise specific moments of the operation, such as those cases in which the lender is not an individual, but is represented by a community or a company made up of several creditors. Although from behind the scenes, in fact, in this situation, an agency delegated to redistribute the entire installment of the loan to the various people, each by virtue of the specific quota and the corresponding variable rate, acts.
Direct loan between private individual
Last and latent residual mediation, in this type of direct loan between private individuals, is encountered in the management of the online platform. In fact, it is an entity that guarantees the seriousness and mutual reliability of the two parties involved, the applicant and the lender, especially in the case of rather large and substantial sums of money.
On the other hand, as in any self-respecting social platform, also in the peer to peer lending, ie in the direct loan between private individuals contracted online, the rating formula was introduced which, regardless of the documentation required by the two parties for activation of the loan, supports and self- regulates the application through the judgment of the applicant and the potential risks that the lender could incur.
The operation of the direct loan between private individuals therefore seems to achieve on the network and by virtue of its increasingly social and self-protecting mechanisms, an almost total autonomy compared to intermediaries, now confined to an obsolete era of credit transfer. In fact, a very low score is enough to accuse a debtor of poor reliability and failure to repay the loan or part of it and, consequently, to alert the creditor of the risks he is facing and turn offshore.