Lending Loop is currently engaging in discussions with the appropriate securities regulatory authorities. During this time, we have decided to voluntarily and temporarily halt the posting of new loan requests on the marketplace. Lending Loop will continue to service all existing loans and lenders will continue to be able to access their account, monitor their portfolio and withdraw funds at any time at no cost. In the interim, Lending Loop will continue to fund loan requests from businesses using its own capital.
Since October 7th, 2015 more than 3,000 Canadians have signed up to join Lending Loop in pursuit of prospering with Canadian businesses. Investors have helped businesses hire new employees, expand their stores, purchase inventory and re-tool their shops. We are tremendously proud to have brought together a community of investors that has collectively proven that peer-to-peer lending can thrive in Canada.
In the meantime, please do not hesitate to email our team with any questions or feedback you have. We’d like to thank you for your patience as we put forth efforts that will bring a more robust peer-to-peer lending model to Canada for the long-term.
The Lending Loop Team