RadCred and the rise of alternative lending platforms
Banks used to be the only option for extra funds, but that has changed a lot since then. Rather than making loans itself, radcred.com connects people who need money with a group of independent lenders. Someone fills out one form, and that single form gets sent out to several lenders at once. No sitting in a branch lobby, no stack of paperwork to sign in person. The whole point is speed, and routing one request to many lenders at the same time is what makes that possible.
What's interesting is how little control the platform itself holds over the outcome. RadCred does not decide interest rates or repayment terms; that part stays entirely with whichever lender picks up the request. So the applicant isn't stuck with one bank's rulebook. They get exposed to several different sets of criteri...
