Investing

Lending Loop - peer to peer lending - do due diligence

  • Last Updated:
  • Dec 7th, 2017 9:27 am
Newbie
Sep 18, 2017
35 posts
38 upvotes
^^ sounds good. I’m now into 5 deals and finding it an interesting process.
Sr. Member
Jul 27, 2017
582 posts
176 upvotes
GTA
FUMONEY wrote:
Oct 19th, 2017 6:55 pm
^^ sounds good. I’m now into 5 deals and finding it an interesting process.
what is the average interest rate you are getting across the 5 deals?
Newbie
Sep 18, 2017
35 posts
38 upvotes
porticoman wrote:
Oct 19th, 2017 7:22 pm
what is the average interest rate you are getting across the 5 deals?
14.406 gross
12.906 net

So far I have deal ratings of A, B+, C+, D+, D
Member
Apr 9, 2012
441 posts
99 upvotes
Markham
I have over $20k in lending loop, the only thing I dislike is the amount of deal flows. There are so little deals now that anything they put up gets funded in like 3-4 days. There's a lack of option because there's a lot built up demand from cash sitting in all the accounts.

They need to bring more deals in.
Newbie
Sep 18, 2017
35 posts
38 upvotes
LOTS of deals in the last 2 weeks. Six currently funding and I am into 9 total since activating my account 2 weeks ago.
Last edited by MrDisco on Oct 25th, 2017 8:15 am, edited 1 time in total.
Reason: no referrals
Deal Addict
User avatar
Mar 16, 2010
1682 posts
708 upvotes
Hamilton
Only part about this I don't like is how long it takes to get money into it. Makes it hard to jump on something when it takes a week to transfer money, unless you have it just sitting on their platform.
Deal Addict
Nov 9, 2013
1947 posts
688 upvotes
Edmonton, AB
atang810 wrote:
Oct 20th, 2017 10:06 am
I have over $20k in lending loop, the only thing I dislike is the amount of deal flows. There are so little deals now that anything they put up gets funded in like 3-4 days. There's a lack of option because there's a lot built up demand from cash sitting in all the accounts.

They need to bring more deals in.
Personally I wouldn't want them to sacrifice quality for quantity. If this was to happen, defaults may increase, which is obviously not in the investors best interest.
Deal Addict
Oct 1, 2004
4407 posts
296 upvotes
Toronto
atang810 wrote:
Oct 20th, 2017 10:06 am
I have over $20k in lending loop, the only thing I dislike is the amount of deal flows. There are so little deals now that anything they put up gets funded in like 3-4 days. There's a lack of option because there's a lot built up demand from cash sitting in all the accounts.

They need to bring more deals in.
How much are the accounts insured for?
Sr. Member
Nov 13, 2013
815 posts
268 upvotes
OTTAWA
treva84 wrote:
Oct 25th, 2017 2:43 pm
Personally I wouldn't want them to sacrifice quality for quantity. If this was to happen, defaults may increase, which is obviously not in the investors best interest.
They could also offer lower rates to borrowers to attract higher quality and/or more clients. The demand from investors is clearly there so they can bring the rates into the single digits and still get sufficient interest.
Deal Addict
User avatar
Aug 16, 2009
1415 posts
284 upvotes
fogetmylogin wrote:
Nov 15th, 2017 3:41 am
They could also offer lower rates to borrowers to attract higher quality and/or more clients. The demand from investors is clearly there so they can bring the rates into the single digits and still get sufficient interest.
I find investors on the platform are clamoring for the D and E rate loans with +16% rates. I would like to see more tech startups, but I imagine they get better rates from VC's and Banks.
Member
Apr 22, 2014
490 posts
224 upvotes
Edmonton, AB
smokescreen15 wrote:
Nov 27th, 2017 4:20 pm
I find investors on the platform are clamoring for the D and E rate loans with +16% rates. I would like to see more tech startups, but I imagine they get better rates from VC's and Banks.
To be approved for a loan, Borrowers are required to be incorporated or a partnership for at least 1 year and have generated a minimum of $100,000 in annual revenue. I am not sure many start-ups would meet those requirements.
Sr. Member
Nov 13, 2013
815 posts
268 upvotes
OTTAWA
philland wrote:
Nov 28th, 2017 12:43 am
To be approved for a loan, Borrowers are required to be incorporated or a partnership for at least 1 year and have generated a minimum of $100,000 in annual revenue. I am not sure many start-ups would meet those requirements.
They don't generally have the cash-flow to pay back such a loan either.
Deal Addict
User avatar
Aug 16, 2009
1415 posts
284 upvotes
philland wrote:
Nov 28th, 2017 12:43 am
To be approved for a loan, Borrowers are required to be incorporated or a partnership for at least 1 year and have generated a minimum of $100,000 in annual revenue. I am not sure many start-ups would meet those requirements.
You are correct there. I guess how I should frame it is mature start-ups that have revenue and growth over 5 years. However, I'm sure these type of software companies probably have access to more favourable terms elsewhere.
Deal Addict
Oct 1, 2004
4407 posts
296 upvotes
Toronto
don't think auto lend feature is working correctly? I set my to invest in all loans, have money in the account, however, with loans in the market place, I'm not automatically investing the money...
Member
Apr 9, 2012
441 posts
99 upvotes
Markham
greg123 wrote:
Nov 14th, 2017 7:43 pm
How much are the accounts insured for?
Nothing is insured once you buy into a loan. But says deposit are all insured with CDIC so I guess the standard 100k.

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