Person-to-Person Lending

Definition

From the Wikipedia:

"Person-to-person lending (also known as peer-to-peer lending and social lending) is, in its broadest sense, the name given to a certain breed of financial transaction (primarily lending & borrowing, though other more complicated transactions can be facilitated) which occurs directly between individuals ("peers") without the intermediation/participation of a traditional financial institution. See also disintermediation. An enabling technology for person-to-person lending has been the Internet, where person-to-person lending appears in two primary variations: an "online marketplace" model and a "family and friend" model." (http://en.wikipedia.org/wiki/Peer-to-peer_lending)