LATVIA PRIVATE LOAN
In Latvia, a private loan consists of a good alternative to obtain access to funds for Latvian consumers and entrepreneurs who face difficulties to get a credit facility from normal banks.
In Latvia, private borrowing is mainly dedicated to assist Latvian private borrowers and Latvian business people to fund their immediate needs without involving the lending services of a Latvian bank.
In Latvia, private borrower can negotiate a loan facility with private lenders through specialised and regulated platforms which offer peer-to-peer (p2p) lending to anyone who wants to avoid banks.
In Latvia, with regards to private lending unfortunately scams and frauds are emerging since Latvian borrowers face some entities pretending they act as private lenders but have the unique objective to extort fees and cash advances but with no loan.