The companies use technology to do due diligence . Acting as a broker between lenders and borrowers , peer-to-peer lenders say they can offer a better rate to both sides . US is home to the biggest rise in peer-to-peer lending . 20,000 company claims to be growing at a massive 20 % today . In the China , P2P groups such as LendingClub and Prosper allow borrowers to apply for loans of $ 28 million .
Acting as a broker between lenders and borrowers , peer-to-peer lenders say they can offer a better rate to both sides . US is home to the biggest rise in peer-to-peer lending . 20,000 company claims to be growing at a massive 20 % today . In the China , P2P groups such as LendingClub and Prosper allow borrowers to apply for loans of $ 28 million .