With the popularity of Internet users, the progress of technology and the rapid development of currency digitalization, P2P online personal loan service platform appeared for the first time in Britain in 2005. This model has been widely recognized and paid attention to because of its mutually beneficial and win-win operation mode, efficient and convenient operation mode and personalized interest rate pricing mechanism, and has been quickly replicated in other countries. At present, there are more than 500 P2P companies in China. It can be roughly divided into three modes. First, mainly offline business, such as CreditEase; Second, only do online business, such as taking loans; The third is the combination of online and offline, which represents everyone's loan. Industry insiders predict that the P2P industry will usher in a major reshuffle in the next two years. After the huge financing of Renren loan, it will further intensify the competition of domestic P2P leaders.

First, Renren Loan Company is a P2P platform with online and offline complementary mode, online development of investors and offline development of credit. This model is more transparent and standardized. Renren loan focuses on the field of microfinance customers. The purpose of strengthening offline loan terminals is to expand and cultivate such customers who are not on the Internet, and to strengthen the borrower tracking system of Renren loan through offline outlets. Renren loan provides a network platform for both borrowers and borrowers. After the borrower and the lender register on the website, the borrower publishes information on the website, and the lender uses the information to select the object to lend. All transactions are done online. In China, borrowers borrow from traditional financial institutions, and in most cases they need mortgage and guarantee. Renren loan model is bound to have a positive and far-reaching impact on China, folk credit and microfinance industry.

The second is the credit model of "the contract transfer model of creditor's rights under everyone's loan". It can be called "many-to-many" mode, where loan demand and investment are dispersed. Even Tang Ning, the head of CreditEase, lends money to the borrower as the largest creditor, and then obtains the creditor's rights for division, and transfers the creditor's rights to other investors in the form of creditor's rights transfer to obtain loan funds. Due to its special lending model, CreditEase has also established "two-way Sanda" risk control, and obtained one-year creditor's rights in the form of personal loans. CreditEase splits the creditor's rights in both amount and term. In this way, CreditEase constantly attracts funds by using the staggered ratio of funds and maturities. While granting loans to obtain creditor's rights, it constantly mismatches the amount and maturities and continuously splits and transfers them. CreditEase's model is characterized by strong reproducibility and rapid development. Its framework system can be regarded as the docking of left assets and the docking of right creditor's rights. The balance coefficient of CreditEase is that the amount of foreign loans must be greater than or equal to the assigned creditor's rights. If the loan amount is actually less than the transferred creditor's rights, it is equal to the transfer of non-existent creditor's rights. According to the Notice on Further Combating Illegal Fund-raising, it belongs to the category of illegal fund-raising.