Hassle-free p2p lending on Marinate.

Peer-to-peer lending might be riskier than you think.

We keep hearing stories of ‘loan sharks’ preying on unsuspecting borrowers, but did you know how risky non-bank, peer-to-peer loans could be for the lender? And how can you protect yourself if borrowing from your friends or family is your only choice because of lack of credit score, cumbersome banking procedures, or inflexible terms?

With almost $15 trillion in assets, the shadow-banking sector in the United States is roughly the same size as the entire banking system of Britain, the world’s fifth-largest economy. The New York Times, 2019.

Although there is normally a written agreement that covers lender and borrower liabilities, those are often quite informal and done through referrals, with loans finalized through text, chat, or paper IOU slips with vague wording. This holds a number of dangerous underwater stones for the lender who can easily lose track of their payment schedule or find it hard to match up payments from their various income sources to the original loan. As a result, we get unprecedented confusion that leads to disputes and litigation, even if you’re borrowing from friends and family.

Marinate adds credibility and accountability to the lending process.

With Marinate, both online p2p lending platforms and offline informal lending practices can benefit from increased transparency throughout the lending process. By anchoring payment obligations on the Taraxa blockchain, the app makes it easy to track signatures and dates, the scope of the lender’s liability, outstanding monthly payments, interest accrued, and overdraft penalties.

Know for sure when and what loan terms you’ve signed up for.
Track the loan performance by looking at stakeholder activity near real-time.
Be in control of taking out additional borrowing by having your approval explicitly recorded.
Get better protection for your small business in unsecured business loans, or when dealing with Business Development Companies, or B.D.C.s.