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Sector Snapshot on US Online Platform-Based Alternative Lending Market

The traditional lending industry has been hit the worst by new startups since there was a lot of scope for improvement within the industry. Alternative financing FinTech startups launched products that not only helped borrowers but also helped in lowering operating costs through the use of technology. This model fits borrowers who want quick access to cash and at good interest rates.

Things started changing in 2007 but grew at slow pace. When banks became stricter in lending after the financial crisis,

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