Lending Loop, which became the first online lender in Canada to offer US-style peer-to-peer lending last year, has reopened its marketplace after being sidelined by local regulators earlier in 2016. The company said it is now accepting applications for loans of up to $8,000 and will be offering a new product called “Payday Lender” that allows borrowers to pay back their balances within
Lending Loop, which became the first online lender in Canada to offer US-style peer-to-peer lending last year, has reopened its marketplace after being sidelined by local regulators earlier in 2016. Lenders can invest as little as $25 into small businesses now that the platform has met the requirement to be registered with securities commissions in most Canadian provinces, and has agreed to be bound by a series of regulatory consumer protections.