Lending Loop’s underwriting and due diligence process

First Steps There are several steps that Lending Loop takes when underwriting loans. ...

What fees does Lending Loop charge a lender?

There is no fee charged to sign up to the Lending Loop platform. Lenders are charged a se...

What is the minimum amount of money I can deposit to fund my account?

$200 is the minimum amount required to initially fund your Lending Loop account. Once your...

What is the minimum commitment I can make towards a loan?

The minimum commitment a Lender can make towards a loan is $25 and all notes are sold in $...

Can I sell my note before the term of the loan is up?

No. At the current time, there is no secondary market for you to sell your notes. From tim...

Where are my note payments received?

All monthly payments are collected from the corresponding Borrowers by Lending Loop and ar...

Are the interest rates listed fixed or variable?

Currently, all loans listed on the marketplace have fixed interest rates.

What happens to my commitment if a loan isn't fully funded?

If a Loan Request has not attracted Lender commitments sufficient to fully fund the reques...

Where are my funds held?

Your funds that have not been lent out are held in trust at a Canadian Chartered Bank, so ...

What happens if a Borrower loan goes "bad"?

With respect to Borrower loans, Loop Funding Inc. is responsible for administering, collec...

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