5 Reasons Millennials Prefer Alternative Lenders
Once considered a very small niche within the lending market, peer-to-peer lending is starting to go mainstream. Recently, two such lenders, Lending Club and OnDeck Capital, have both raised several million dollars each by going public through their respective IPOs. What is the secret to their success? Millennials. More and more millennials it seems are establishing businesses and are in need of raising capital. Previous generations went through traditional sources such as banks, but millennial business owners appear to prefer peer-to-peer lending groups. Here are five reasons millennials prefer alternative lenders rather than traditional lenders.