An Empirical Analysis of Private Lending Channels in Hangzhou
Private lending is only a private channel, which does not conform to the law and is not protected by law. Therefore, if you are cheated by private lending, no one can make decisions for you. Even if a lawsuit is filed, the platform for private lending may run away and no one can be found. So don't go to private lending, there is no private lending channel in Hangzhou. There may be some very secret private lending channels, but you can't find them online unless someone introduces them.
It is more legal to borrow money from formal financial companies or banks.
If you live, work or live in Hangzhou and encounter financial difficulties, you can go to some formal financial companies or banks for loans. These lending institutions are all legal and the loans here are also protected by law. If your credit qualification is poor and you can't borrow money from financial institutions, you can also borrow some money from your friends to maintain your present life. In short, private lending is a pit, which does not conform to the law. Don't do it unless you have to.
Formal loan companies are protected by law, and the interest is very reasonable within the borrower's tolerance, but the interest of private lending is determined by the people themselves, and the interest may be relatively high. Moreover, after you borrow from a regular loan company, you have a certain repayment period. Even if you can't repay after the repayment period, you can extend the repayment period, which is very flexible.