P2P lending is a good concept and getting popular in crypto world,  but security and trust is big issue in this concept.  P2p lending is much cheaper and fast.  Cheaper because banks or other financial institutions is not involved in between so their interest cut and institution running cost is saved,  so it both lender and buyer got its benefit.  Moreover legal formalities can also be lenient and easy to fulfill.  But trust between two panties is the major factor for any such transaction,  which is really difficult to fulfill.