Peer-to-peer lending for individual and MSME finance: Evidence from an original survey in China

Yajing Liu, Kenya Fujiwara and Toshiki Jinushi

International Review of Economics & Finance, 2024, vol. 93, issue PA, 38-51

Abstract: This study analyzes peer-to-peer (P2P) lending, a new financing tool for micro, small, and medium enterprises (MSMEs) and individuals, in terms of its relationship with existing financing tools. We conducted a survey of P2P borrowers in China and analyzed the factors that influenced their preference for P2P loans. A key finding was that both business and individual borrowers having difficulties with traditional financing methods—such as the young and women, persons without collateral, and newly established firms—prefer P2P lending. Furthermore, individual borrowers are drawn by the preferential terms in the P2P loan contracts, while business borrowers are not.

Keywords: Peer-to-peer lending; Individual and MSME finance; Borrowers; Online platform; China (search for similar items in EconPapers)
JEL-codes: G23 G28 G40 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:93:y:2024:i:pa:p:38-51

DOI: 10.1016/j.iref.2024.02.038

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