Personal Finance

Anyone invested with this

  • Last Updated:
  • Sep 26th, 2020 12:31 pm
Sr. Member
Aug 25, 2005
591 posts

Anyone invested with this

This is a newly licensed peer to peer lending company

Any thoughts ?

Anyone invested with them
7 replies
Deal Addict
User avatar
Jan 16, 2007
1081 posts
If they are more strict on borrowing and risk assessment then they possibly have a chance. I gave Lending Loop a go just to see what the result would be, and it was essentially a disaster. Even amongst those that were rated highly most defaulted in my portfolio. I'll certainly be watching.
Jr. Member
User avatar
May 27, 2017
111 posts
Winnipeg, MB
Stay away from P2P Lending. It's way more risky than you thought.
Deal Addict
User avatar
Jan 16, 2007
1081 posts
Ain't that the truth. High risk is an understatement for it.
Sep 25, 2020
1 posts
It's a good opportunity for borrower and investor it's less risky that. Cryptocurrency and you can make good roi . Let see in future maybe he dies not accept all people I. Loan . Maybe it's strict we dont know
Deal Fanatic
Apr 16, 2007
7870 posts
Financial District B…
P2P or marketplace lending is nothing more than another name for subprime flake bad credit lending.

Where are all the P2P lenders that popped up 2/3 years ago? gone, changed names 3-4 times, they only attract and/or target marginal credit challenged individuals with huge default rates.

Alternative lending within the fintech sector is a bust. They prey upon desperate borrowers.
Last edited by mikeymike1 on Sep 26th, 2020 5:46 pm, edited 2 times in total.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
Feb 18, 2019
435 posts
P2P lending is a great idea, and may be the way of the future, but IMO is too new and I wouldn't risk it. I think people who put money in Lending Loop would agree.
Minimum 7.5% APR, and up to 31.5%... Ask yourself who's taking out these loans, then throw in the economic uncertainty Corona Virus is creating...
Hard pass for me.