Now there’s a better way to borrow and a smarter way to lend. With the launch of Lending Loop, middle-class Canadians can grow their personal wealth by lending to the small businesses at the heart of their community and across Canada.
Traditionally, Canadians have had little choice when it comes to investing their money. Purchasing stocks requires substantial capital, time and knowledge. Mutual funds make hard earned money less accessible. Bonds pay little in the way of interest and bank savings accounts yield even less.
“Today is a brand new day for Canadians and small businesses across the country,” explains Lending Loop CEO, Cato Pastoll.
“With as little as $50, Canadians can lend their money to the thriving local coffee shop that needs new equipment to grow or the farm around the corner requiring staff to develop a farm-to-home produce delivery program.”
Lending Loop was founded by entrepreneurs Cato Pastoll and Brandon Vlaar, who witnessed firsthand the difficulties their friends and loved ones experienced as small business owners dealing with big banks. They soon realized the need for a new financial model for small business to have fast and easy access to the capital needed to grow in a global economy.
Lending Loop Offers Small Business the Chance to Compete
Although small businesses are unquestionably the backbone of the Canadian economy, the traditional lending model offered up by big banks often makes it difficult to access the capital they need to compete against global conglomerates and big-box stores.
Small and medium-sized businesses employ nearly 90 percent of Canadians working in the private sector and produce 40 percent of the country’s GDP. Yet many are rejected by traditional financial institutions when seeking financing. This is because they don’t fit the rigid lending requirements of big banks. Too often, this means their only recourse is to source alternative or private lenders who charge rates well in excess of 20 percent.
Lending Loop is leveraging technology to make the financial sector work more effectively for all Canadians, and small businesses in particular. It is the first peer-to-peer platform in Canada, and offers small businesses a better way to borrow, with a quick and easy application, flexible repayment options and considerably lower interest rates than alternative lenders. By using Lending Loop to access the capital they need to grow their business and expand their market, small business will be able to compete and win.
Check out Lending Loop’s Borrower Guide to learn more.
Lending Loop’s borrowers also have built-in advocates for their business. They are the lenders, who want to see the company succeed because it helps their community and investment grow.
Lending Loop Brings Peer-to-Peer Lending to ALL Canadians
For investors who can’t afford the high transaction fees banks charge to manage their portfolio, Lending Loop also makes investing far more accessible.
Instead of investing in faceless corporations or taking risks in a volatile market, Lending Loop makes it possible for Canadians to support local businesses and business owners. And, because you can lend as little as $50 while earning attractive returns commensurate with risk, the Lending Loop marketplace makes investing more accessible and affordable for more Canadians than ever before. Lending Loop also makes it incredibly easy for any investor to build a healthy, diverse portfolio across a number of small businesses and industries.
Lending Loop uses an all or nothing funding model to protect the hard earned money of lenders. The loans only come into effect if the borrower receives the full amount of their loan request in total pledges. Ensuring a project or business is fully funded maximizes the likelihood for the borrower to be in a positive position to repay lenders.
Joining Lending Loop for small business to access a better way to borrow and for all Canadians, a smarter way to invest. Visit lendingloop.ca to learn more.
For more information or to arrange an interview with a Lending Loop representative, please contact: Justine Woolcott, 416-366-7735 x 261, firstname.lastname@example.org