Peer Loan

A peer loan, also referred to as peer to peer lending or P2P lending, is a loan made from one individual to another individual without the involvement of a financial institution. Traditionally, people who had cash deposited it in a financial institution, such as a bank, and then the bank would loan that money out to someone who needed it. But in a peer loan the individual with money to loan goes directly to the person who needs the money. The internet has made this process much more efficient, although some online marketplaces have recently come under scrutiny from the S.E.C.

Kwik-Loan is a suite of software tools designed for the consumer lending industry. But we are aware of how technology is changing the way people do everything, including their financial transactions. Please contact us if you would like to learn more about Kwik-Loan and where we can add value when it comes to a peer loan.

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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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