P2P Loan

A P2P loan, also known as a peer to peer loan, is a transaction in which an individual with capital makes a loan directly to an individual who needs it. This is in contrast to traditional lending when a person deposits capital into a bank and then the bank loans capital back out to a borrower. Because a P2P loan is more efficient, and often cheaper for the borrower yet still more profitable for the lender, it has gained in popularity in recent years. And because most lending institutions, like banks and credit unions, have drastically tightened their credit in recent months, P2P lending has become even more popular.

Kwik-Loan is a suite of software modules that were initially developed for consumer lending institutions. These modules do everything from helping lenders market themselves online to taking online applications to automating credit decisions. And as the P2P loan becomes more popular, Kwik-Loan is committed to helping these non-traditional lenders and borrowers conduct their business more efficiently. Please contact us to speak to a representative about how we can help with your P2P loan business.

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Credit Central has been using EnCompass for more than a year and a half now. To begin with, the Compass staff was very helpful in converting our old data over to their real-time platform. The b...

David Terrell, Credit Central

Previously, we were running on a system that required a server at each location. Our branches had to run daily reports and forward to the home office where we consolidated them for management review....

Brad McClure, Central Financial Services

By moving to the Compass Kwik-App program, Kitch as been able gain an edge on competitors by electronically providing all necessary loan documents to our indirect dealers. Dealers love the fact that ...

Chet Kitch, Kitch Companies

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