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INTERVIEW QUESTIONS
LOAN
PEER-TO-PEER LENDING
DETAILS
Question: How are you different from 'payday' lenders?
Answer: 'Payday' Lenders are generally lenders of last resort. In return for access to short-term credit (about 30 days) and loans that are typically of small nominal value, payday borrowers pay extremely high fees and interest rates.
SocietyOne is not a Payday Lender. We look for creditworthy, quality borrowers who typically have established relationships with major banks. Our loans range up to 60 months, from $5,000 to $35,000, which does not fit with the definition of a payday loan. We think quality borrowers with good track records are not getting the best rate they deserve.
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Peer-to-Peer Lending Interview Questions & Answers -
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Question:
How are you different from 'payday' lenders?
Answer:
'Payday' Lenders are generally lenders of last resort. In return for access to short-term credit (about 30 days) and loans that are typically of small nominal value, payday borrowers pay extremely high fees and interest rates.
SocietyOne is not a Payday Lender. We look for creditworthy, quality borrowers who typically have established relationships with major banks. Our loans range up to 60 months, from $5,000 to $35,000, which does not fit with the definition of a payday loan. We think quality borrowers with good track records are not getting the best rate they deserve. Source: CoolInterview.com
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