{"id":238,"date":"2023-01-08T11:46:36","date_gmt":"2023-01-08T18:46:36","guid":{"rendered":"https:\/\/leonardhendricks.com\/?p=238"},"modified":"2023-10-09T08:32:44","modified_gmt":"2023-10-09T14:32:44","slug":"lending-loop","status":"publish","type":"post","link":"https:\/\/leonardhendricks.com\/index.php\/2023\/01\/08\/lending-loop\/","title":{"rendered":"Lending Loop"},"content":{"rendered":"\n

I enjoy the idea of lending people money directly, and GoPeer<\/a> certainly seems to have a good volume. However, it is all consumer based and certainly I think there is more risk with consumers in many ways, especially in Canada with such high consumer debt.<\/p>\n\n\n\n

So I tried a business lending platform called LendingLoop<\/a>. It has a nice interface, and like others you can setup both auto-investing as well as auto-deposits. The big difference is the volume of loans. While I never have cash sitting idle with GoPeer<\/a>, it is quite common with LendingLoop<\/a>. It seems like a struggle to invest funds.<\/p>\n\n\n\n

To combat this I used a higher per loan amount and still I have had trouble getting loans. I do use the same grades as GoPeer <\/a>– A+ to C. <\/p>\n\n\n\n

For 2022 the gross returns seemed reasonable, and LendingLoop doesn’t show you need returns, but after some quick match it looks like a net interest rate around 7 or 8%. This probably isn’t worth the risk in many ways, but I will leave the initial investment in the account and let it auto-invest and see what happens. <\/p>\n\n\n\n

If you are going to try out LendingLoop, why not use my referral code and we both get $25? https:\/\/my.lendingloop.ca\/lenders\/retail_lenders\/registrations\/new?code=e35d06<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I enjoy the idea of lending people money directly, and GoPeer certainly seems to have a good volume. However, it is all consumer based and certainly I think there is more risk with consumers in many ways, especially in Canada with such high consumer debt. So I tried a business lending platform called LendingLoop. It … <\/p>\n

Continue reading “Lending Loop”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[48,49,50],"class_list":["post-238","post","type-post","status-publish","format-standard","hentry","category-lending-loop","tag-lendingloop","tag-peer-to-peer-lending","tag-small-business-lending"],"_links":{"self":[{"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/posts\/238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/comments?post=238"}],"version-history":[{"count":1,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/posts\/238\/revisions"}],"predecessor-version":[{"id":239,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/posts\/238\/revisions\/239"}],"wp:attachment":[{"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/media?parent=238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/categories?post=238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leonardhendricks.com\/index.php\/wp-json\/wp\/v2\/tags?post=238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}