Chapter 2 focuses on the non-intermediated market and its actors from c. 1650 to 1790. These credit markets functioned as peer-to-peer or interpersonal lending, exchanges that featured either a private written agreement or a verbal promise. Often considered merely as simple daily transactions made to alleviate a lack of cash in circulation and to smooth consumption, they are often eclipsed by notarial credit. In this chapter, the probate inventories of seigneuries in the south of Alsace highlight the various features of these peer-to-peer exchanges and give particular attention to the profiles of lenders and borrowers, the purpose of the loans, and the networks of exchange at work. This chapter shows that these exchanges were in fact of significance. The volume of exchange competed well with notarized loan contracts, which prompts questioning the nature and function of non-intermediated credit.