Should you consider P2P lending?

[FAQbala]

The most famous American P2P lending is probably Lendingclub.
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]

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!

[Fintech]

We have been with them for 2 years. They are actually not that new.
We easily did 11% last year.

So far so good

[For it]

Risk is involved with any investment.
Consider it as being part of a balanced portfolio.
With P2P the risk is spread across a big number of small companies.
If you have serious concern about the country's overall economy, then maybe you should not invest at all as any other types of investment products carry more or less the same dependency to the economy.

[DavidClied]

Hmm what i liked about BF is that it seems pretty balanced so i don't have any suggestions. Ofc tho im new to the game and haven't even seen half of the cards xD