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Peer-To-Peer Borrowing Surged During Pandemic, Research Finds

Malkova Cites Accessibility, Flexibility as Reasons for Increase in Peer-to-Peer Lending

Jan 23, 2025

1 min


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New research by Florida Tech assistant professor of business Alina Malkova, Ph.D explores how small businesses sought financing amid the COVID-19 pandemic’s unstable economic environment.


Her paper, “Beyond banks: Navigating the shift to peer-to-peer lending for small enterprises,” published in the journal Research in Economics, developed a model to find whether the COVID-19 pandemic affected small-business owners’ demand for peer-to-peer (P2P) lending.


Beyond banks: Navigating the shift to peer-to-peer lending for small enterprises


Malkova found that more small business owners turned to P2P platforms during this time, primarily because they were more accessible and flexible than traditional banks. Borrowers could access P2P platforms online for convenient use, and the platforms’ advanced algorithms gave lenders more information about borrowers, such as neighborhood demographics, leading to a better understanding of their financial situation.


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“If you are an owner or borrower and you have short-term financial problems, it may help you,” Malkova says. “It helps you signal your situation.”







Ultimately, Malkova says P2P platforms played critical role in overcoming financial barriers that inhibited small businesses in times of limited access to traditional funding.


If you're interested in learning more or a reporter looking to speak with  Alina Malkova - simply contact Adam Lowenstein, Director of Media Communications at Florida Institute of Technology at adam@fit.edu to arrange an interview today.

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