Acting as a broker between lenders and borrowers , peer - to - peer companies say they can offer a better rate to both sides . China is home to the biggest rise in peer - to - peer lending . Since the world economies went into a tailspin in 2008 , getting a bank loan has gotten harder . One company claims to be growing at a massive 20 % each year . In the US , P2P sites such as LendingClub and Prosper encourage users to apply for loans of as much as US $ 35,000 .
Acting as a broker between lenders and borrowers , peer - to - peer companies say they can offer a better rate to both sides . China is home to the biggest rise in peer - to - peer lending . One company claims to be growing at a massive 20 % each year . In the US , P2P sites such as LendingClub and Prosper encourage users to apply for loans of as much as US $ 35,000 .