Alternative lending encompasses various lending options that do not follow the traditional banking model, which often involves lengthy processes and strict eligibility requirements. It includes peer-to-peer lending, online lenders, microloans, and crowdfunding, and is designed to cater to individuals and businesses that may face challenges with securing loans from traditional banks. These lenders may use different criteria to assess creditworthiness, prioritizing factors like cash flow, business model, and online presence over standard credit scores.