A lending platform is an online service that connects borrowers with lenders, facilitating loans without the need for traditional banks. These platforms allow individuals or businesses to apply for loans, often with competitive interest rates and flexible terms. They typically use technology to assess creditworthiness and streamline the application process. Borrowers can find various types of loans, such as personal loans, business loans, or student loans, depending on their needs. Lenders, which can include individuals or institutions, can earn interest on the money they lend. Popular examples of lending platforms include LendingClub and Prosper.