We spend a lot of time talking about why Lending Loop is excellent, and we thought it was time to let some of our Lenders do the talking. Read on to learn more about Justin’s experience with Lending Loop.
Justin, Internet Marketing Coordinator
1. What drew you to Lending Loop?
When I first became interested in investing at a younger age I thought about buying individual stocks of bigger companies like Apple, Amazon, and Coca-Cola. After some research however I discovered that this wasn’t the best way to invest my money and it would be difficult to do with only a small amount of capital. After some time passed and I found out about Lending Loop. What first drew me to the platform would be the ability to invest in individual companies like I had originally wanted but with less restrictions on how much money would be required. The second thing that drew me to the platform was that I knew I would be helping out small and medium sized businesses across the country that had thriving businesses but still didn’t have easy access to capital from traditional sources. Finally, the returns on investment were attractive and another reason to consider the platform.
2. What’s your primary goal on Lending Loop?
Have some fun investing in different Canadian companies and expanding my investment portfolio to a different area. If there are registered accounts (RRSP/TFSA) in the future I would look at the possibility of making it a larger part of my overall portfolio.
3. Do you have an investment strategy?
Lending Loop is a very small portion of my overall investments but the strategy I use is similar to my other investment: diversification. Spreading out your capital across many different companies reduces your risk and is probably the smartest thing someone could do on the Lending Loop platform. In addition to spreading my capital around to many different companies I look at the financials, market for the product/service, and do some quick research on the company online to get a general understanding of the company in the market place.
4. What is your favourite part of the Lending Loop platform?
My favourite part about Lending Loop is the ability for any investor, young or old, new or experienced, to get in and try it out by investing as little as $200 to start.
5. How has your experience been on Lending Loop and with Peer-to-Peer lending in general?
So far I have been very happy with the Lending Loop platform, it is easy to use, investment minimums are easy to reach so anyone can get involved, and there has been a wide range of companies to invest in all across the country. Plus there is still lots of room for Lending Loop to grow so I think the platform and size of peer-to-peer investing will only get bigger and bigger.
6. What business were you most excited to invest in?
One of the first companies I invested in was a local company here in Winnipeg. It was fun to help a local business that is just a five-minute drive from where I work and I could actually see the renovations that were going on and seeing the money be put to use.