What's the difference between P2P and consumer finance?

1, P2P means person to person (partner to partner). Also known as Peer-to-Peer peer-to-peer lending, it is a private micro-lending model, which gathers small amounts of funds and lends them to people who need them. It belongs to a product of Internet Finance (ITFIN). It belongs to private microfinance, an online credit platform built with the help of Internet and mobile Internet technology, and related financial management behaviors and services. However, it should be noted that in mid-June, 2020, the actual P2P online lending institutions in China were completely zero at 5438+065438+ 10.

2. Consumer finance companies refer to non-bank financial institutions established in People's Republic of China (PRC) with the approval of China Banking Insurance Regulatory Commission, which do not absorb public deposits and provide consumer loans to individual residents in China on the principle of small amount and dispersion. The professional consumer finance company to be established on a pilot basis does not absorb public deposits, and the main source of funds at the initial stage of establishment is capital. After the scale is expanded, you can apply for issuing bonds or borrowing from banks. This kind of professional company has the unique advantages of small single credit line, fast approval, no mortgage guarantee, flexible service mode and short loan period.

Tips: The above information is for reference only. Peer-to-peer lending has certain risks, so please choose carefully. If you need funds, you can also handle them through our official channels. Ping An Bank provides unsecured credit loans, as well as mortgages and mortgage loans for houses and cars. Different loan application conditions and requirements are different. Whether the examination and approval can be successful is evaluated according to your comprehensive qualifications. For details, please log in to Ping An Pocket Bank APP- Finance-Loan and try to apply.

Reply time: February 2022-11. Please refer to the latest business changes announced by Ping An Bank in official website.