Peer to peer (P2P) lending platforms simplify the process of availing loans for short- to medium-terms. To avail loan from a P2P platform, the borrower must register by filling up an online form that captures personal, financial and professional details. Registration fees may be also be charged by the platform. All documents required by the platform must be furnished to process the registration. The borrower is required to mention the loan amount and the period for which it is needed. Once the borrower profile is created, the P2P institution will carry out credit verification and assign a credit score.