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Lending Loop has a rating of 3.25 stars from 4 reviews, indicating that most customers are generally satisfied with their purchases. Lending Loop ranks 128th among Business Loans sites.
Canadians have been looking for a way to crowdfund company projects and expansion, there have also been a very small number of defaults or missed payments from what I've seen so far. Their team is very willing to explain the process to you and what's within their control to protect your investments. In an overpriced stock market it's quite a luxury that LLoop has come along!
I have been lending with them for years. They no longer answer or return my phone calls and I have been trying for months. I cannot access my funds. Their customer service is no longer functional. Stay away. It is dangerous to lend with them. They have basicly stolen my money at this point and they don't care. Dangerous to invest with them.
Canadians have been looking for a way to crowdfund company projects and expansion, there have also been a very small number of defaults or missed payments from what I've seen so far. Their team is very willing to explain the process to you and what's within their control to protect your investments. In an overpriced stock market it's quite a luxury that LLoop has come along!
I'm giving it 2 stars because I think the concept of Lending Loop is fantastic, but in terms of customer service and accountability, it is quite poor.
The following error message has remained on my account for several months (yes, months) despite multiple emails, multiple "scheduled appointments" with my representative who has actually no-showed to 2 of them:
"You have scheduled a call with your dealing representative. To confirm the time of your call please check your inbox. Click here if you would like to reschedule. In the meantime, manual investing through the marketplace will be disabled."
Perhaps others have had better experiences with their front facing staff. Unfortunately, my personal experience has been quite poor.
I have been lending with them for years. They no longer answer or return my phone calls and I have been trying for months. I cannot access my funds. Their customer service is no longer functional. Stay away. It is dangerous to lend with them. They have basicly stolen my money at this point and they don't care. Dangerous to invest with them.
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Lending Loop is an online marketplace for Canadians to lend money to growing local businesses.
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