London, UK (PRWeb UK) September 13, 2010
YES-secure has set itself up as a SOCIAL NETWORK LENDING & BORROWING website in the P2P lending space. This is a marketplace for people as members to explore and evaluate lending opportunities with other YES-secure members. With its focus on the community angle, YES-secure have highlighted an exciting dimension in P2P lending which may change the face of social lending. Let’s see why it’s meaningful to involve friends and family in financing loans and how YES-secure is an appropriate platform for facilitating such loans.
What are the advantages of financing your loan through friends and family?
1. Folks from your social circle or even work environment can help you with money for business startup or expansion costs, medical emergency, educational expenses, buying your first car or going on a vacation,.
2. It can save you from paying excessive interest rates which might be charged by banks and other financial institutions on personal loans.
3. Sometimes help from friends and family is the only feasible option for people tackling financial emergencies such as losing a job, facing bankruptcy, ruined business or inadequate funds during unemployment or retirement.
4. In the process, it may also benefit your family and friends by garnering more interest on their money than if they had invested it elsewhere.
Is it preferable to get a family loan documented?
1. Formalising a family loan can save people from soured relationships and impaired finances.
2. More than that, it can safeguard the lender, the borrower and the other family members as well.
3. Documented loans have a better likelihood of being repaid because a third party is involved.
4. As a formal loan, it can also be reported to the credit bureau to potentially improve your credit rating.
Why is YES-secure the right choice for friends and family loans?
1. Easy to set up loan request: Registration with YES-secure is quick, free and online. Once registered, you can easily post a loan request on the website.
2. YES-secure loans are legalised: YES-secure handles the borrowing and lending operations in a safe, secure and legally formatted manner. However, as it only facilitates the agreements between lenders and borrowers, even in the case of YES-secure.com going under, your contracts are still legally valid.
3. Invite and connect to friends and family: Members can invite people from their social circle as well as working environment to join YES-secure and bid on their loan requests. They can also create connections with other borrowers to form professional or community groups. Peer-review and peer-groups can go a long way in enhancing the chances of a low cost loan to high-risk borrowers.
4. Attract more lenders: Peer to peer interaction on the YES-secure platform and discussion forum can bring the lenders and borrowers across as real, ordinary people. Members can build up their YES-secure profile using pertinent details to convey their genuineness.
5. Quick and easy repayments directly to lenders: YES-secure provides a safe and automated method for smooth transaction of loan repayments to the lenders from the borrower’s account.
6. Pay back with smile to known people: YES-secure is a financial site with a very human touch and the benefits can be garnered in equal measure by lenders as well as borrowers. Family loans can enhance family unity by contributing in making a person self-sufficient or improve their career or personal opportunities. And the borrower is undoubtedly happier to pay back to real people rather than some faceless institution.