Analysis Of Factors Influencing The Success Rate And Interest Rate Of Loan On P2P Platform

P2P lending is based on Internet technologies to produce a new kind of financial service pattern.Since birth,the P2P lending by virtue of its efficient,fast service to get a high speed development.Great active financial markets at the same time,innovative financial service mode.and improved the capital market financing efficiency.Due to the P2P network is a kind of unsecured lending and unsecured pure credit borrowing mode,it can provide great convenience for the low and middle income people to make money,and get rid of the difficulty in obtaining funds from banks,filled the field of our country’s traditional financial institutions do not want to involved.However,our country’s P2P network lending platform has developed rapidly,but there have been a series of problems.Network lending platform for the risk control system is not perfect,the problem platform continues to increase.The success rate of lending platform compared to developed countries such as America’s online lending platform is still relatively low.platform of borrowing costs are high,some lending platform lending rates even more than 4 times the legal loan interest rates of commercial banks in China over the same period.In addition,different operation mode in our country’s network lending platform have different risk control system,there are many differences between its success rate of the loan and the cost of borrowing.The purpose of this paper is to analyze the influencing factors of lending success rate and the cost of borrowing.And the reasons for the difference in the success rate and the cost of borrowing in different operation modes,and then put forward some suggestions for the development of P2P network lending in our country.Firstly,This paper analyzes the main operation mode of P2P lending platform in China.Secondly,this article respectively selected a typical platform of online mode and combining offline and online mode are analyzed to our country’s P2P lending in current.thus it is concluded that there are big differences between credit authentication and the safeguard measures in two kinds of operation mode.Again,elaborating information asymmetry and credit ration problems in P2P network.Finally,on the basis of above analysis,Using the transaction data of the loan platform of renrendai and paipaidai for empirical research.Analyzing influence factors of affect the success rate of lending and borrowing costs.Through the loan platform of renrendai and paipaidai empirical results found that the borrower’s credit rating and principal guarantee measures have significant impact on the success rate of the loan and the success rate of the loan.Credit certification has a significant impact on the success rate of the loan, but credit certification for the cost of borrowing is not significant.The line of credit certification plays a credit function,for lack of collateral and guarantees of individual owners and low-income groups through the P2P platform successfully obtain financing.played a supporting role in credit.Line of credit certification and risk management did not play a role in reducing the cost of P2P network lending platform.In addition,In the two modes.for the loan platform of renrendai with field certification or institutional guarantees and principal guarantee measures,the borrower’s personal information, the borrowing information for loan does not have influence.the success rate for the loan platform of paipaidai that it do not have field certification or organization guarantee and have safeguard measures of the principal part of borrowing mark,loan success rate will be affected by the borrower’s real estate,loan information and so on.