Should you consider P2P lending?

Get it out! Tell us what you think SHOULD happen (or not) in the world of money, finance, investing, etc.!

Should one put some money to P2P lending?

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FAQbala
Posts: 17
Joined: Tue Jun 21, 2016 10:22 am

Should you consider P2P lending?

Post by FAQbala » Fri Jun 08, 2018 9:38 am

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The most famous American P2P lending is probably Lending tree.
It is a publicly traded company on NASDAQ IPOed not that long ago.
Hence plenty of public records if you want to do some detailed research.

Here is a lesser known Canadian version:
Lendingloop.ca

It is risky but still there are some compelling reasons to consider:

1. If you want to invest in small local businesses because you are just tired of giving money to big corps.
2. If you want to revive local mom and pop shops. Haven't they struggled enough? First it was Walmart and then Amazon
3. If you want further diversification of your portfolio
4. If your financial adviser can't provide such a category in your mutual fund collection
5. 8% may not be much, but Canada is falling behind America raising interest rate. What are savers' options?

SaverMan

Re: Should you consider P2P lending?

Post by SaverMan » Fri Jun 08, 2018 2:23 pm

I think so.
People complain that after tax they are left with 7-10% gains but that's much more than interest on saving accounts.
I don't know how many borrowers default; that could put a spanner in the works!

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