Which financial process allows individuals to borrow money without a bank's consent?

Peer-to-peer lending is the correct answer as it represents a platform that connects borrowers directly with individual lenders without the involvement of traditional banks. This type of financial process typically operates through online platforms that facilitate these transactions, allowing individuals to borrow money from other people rather than financial institutions. This can often result in lower interest rates for borrowers and potentially higher returns for lenders compared to traditional banking products.

In peer-to-peer lending, the process is typically more flexible than traditional banking, allowing for different terms and conditions based on what the borrower and lender agree upon. This model empowers individuals to access loans based on mutual agreement rather than the stringent criteria often imposed by banks.

Other options like credit, micro-lending, and private loan agreements have their own characteristics but may involve some level of institutional or formal agreements, or they might not operate purely on a system free from bank consent. For instance, credit typically involves a bank or financial institution assessing a borrower's creditworthiness. Micro-lending usually involves small loans funded by institutions or non-profits aimed at assisting individuals or businesses in developing regions. Private loan agreements, while they might not go through a bank, often require some formal documentation and might involve stipulations or conditions typical of loans. Thus, peer-to-peer lending stands