 TITLE: What is Peer-to-Peer Lending? CONTENT: Are Peer-to-Peer Loans a Good Idea?\n-----------------------------------\nEvery peer-to-peer lending platform has its own criteria for deciding who qualifies for a loan, and their requirements can be more strict or more diverse than those of traditional lenders. Minimum credit score requirements may be higher, for instance. In addition to (or possibly instead of) credit scores, P2P lenders also may have steeper income requirements, or want evidence of your educational credentials or job history.\nLoan amounts available from P2P platforms typically max out around $40,000 to $50,000 and are offered only to applicants deemed highly creditworthy. Many loans fall into the range of $10,000 to $25,000.\nIf you meet a given lender's requirements, you can get a lower interest rate than you'd get from a traditional lender, which can make P2P loans very attractive for debt consolidation or any other purpose for which you'd seek a personal loan. END