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Learning, Sharing, and Teaching => Investor Alley => Topic started by: Free Forever on July 08, 2017, 08:03:35 PM

Title: Lending Loop (Canadian P2P Lending Platform)
Post by: Free Forever on July 08, 2017, 08:03:35 PM
Lending loop (https://www.lendingloop.ca) is a Canadian P2P lending platform. Currently their loans focus on uncollateralized business loans of various risk and return levels.

I've been investing with them since Jan 2017 and their platform is decent. I'm only investing small dollars right now to test the waters. I don't do any research on the companies I am loaning money too, I just invest $25-$50 per loan as they become available on the platform. My gross yield before fees, taxes, etc. is 14.2%. I'll do the $25-$50 loans until my available funds are all committed to loans and I'll reinvest the interest as well. So far no delinquencies or charge offs but it's early days and I'm expecting quite a few defaults down the road. However I am also expecting to do well on a net basis.

Anyone else using lending loop?
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: snacky on July 08, 2017, 08:50:08 PM
How are the profits taxed?
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: Heckler on July 09, 2017, 02:13:37 AM
Quote from: snacky on July 08, 2017, 08:50:08 PM
How are the profits taxed?

I would expect as unregistered interest income, so at your marginal rate #notanaccountant
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: Free Forever on July 09, 2017, 10:25:41 AM
Quote from: Heckler on July 09, 2017, 02:13:37 AM
Quote from: snacky on July 08, 2017, 08:50:08 PM
How are the profits taxed?

I would expect as unregistered interest income, so at your marginal rate #notanaccountant

Yup taxed at marginal rate
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: snacky on July 09, 2017, 10:39:34 AM
I just signed up because it looks like my kind of fun.
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: KMMK on July 09, 2017, 10:48:09 AM
PTF
Title: Re: Lending Loop (Canadian P2P Lending Platform)
Post by: lostamonkey on July 09, 2017, 05:26:04 PM
Quote from: snacky on July 09, 2017, 10:39:34 AM
I just signed up because it looks like my kind of fun.

I agree, it does look like fun. I will do some more research and if I am satisfied then I might invest a small amount with them. It's extremely tax inefficient though.