Both options have their own importance. Firstly, peer-to-peer lending is not a different type but a sub-category of crowdfunding. The latter is an excellent option for businesses that cannot afford to make repayments. They can apply for reward-based / donation-based funding, a type of crowdfunding. P2P lending, too, has its importance. Here, you have to make repayments, but promotion to a wider network is assured. Both types are functional and can be used as growth capital loans. The best option is to compare and decide which is suitable for your business.