Personal Finance

Anyone invested with this gopeer.ca

  • Last Updated:
  • Oct 17th, 2021 3:01 pm
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[OP]
Sr. Member
Aug 25, 2005
659 posts
60 upvotes
Mississauga

Anyone invested with this gopeer.ca

This is a newly licensed peer to peer lending company

Any thoughts ?

Anyone invested with them
8 replies
Deal Addict
User avatar
Jan 16, 2007
1767 posts
2074 upvotes
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.
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Member
User avatar
May 27, 2017
275 posts
297 upvotes
Winnipeg, MB
Stay away from P2P Lending. It's way more risky than you thought.
4 x Telus SMB Unlimited 15 - $33.5/Line (first 2 years), $45/Line (after 2 years)
Deal Addict
User avatar
Jan 16, 2007
1767 posts
2074 upvotes
Ain't that the truth. High risk is an understatement for it.
🏦 Banking: Alterna Bank (0.9%, No fees)
📈 Investing: National Bank Direct Brokerage
💳 Spending: Amex SimplyCash Preferred (2%), Brim Mastercard (1% forex, non-Amex)
📱 Mobile: Eastlink 10GB Rollover ($45/mth)
Newbie
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
8125 posts
3457 upvotes
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.
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Sr. Member
Feb 18, 2019
569 posts
782 upvotes
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.

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