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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Lending Loop's account

Finanso.Multilogin™

How to register an account

To start lending or borrowing at Lending Loop, one must create a personal account. To do this, personal information is needed for identification and linking the bank account to the system.

For new borrowers, one needs to check if this opportunity is open to new businesses, as it may be temporarily closed, and investors will only work with already registered users.

You can get on the waiting list if the opportunity is temporarily closed.

How to reset a password

The procedure to change your password is quite simple. First, log in to your account and select "Change password" in the account settings. Next, enter your new password and confirm it; enter your old password, and off you go. Your password is changed as soon as you click "Save changes."

If you have forgotten your password, click on the "Log in" button and then on "Forgot password." You will then be prompted to enter the email address you used to register. Any further password recovery instructions will be emailed to you. If you have not only forgotten your current password but are also not quite sure which email address you used for registration, you should contact Customer Service.

For complaints or other questions, use the e-mail address lenders@lendingloop.ca or call 1-888-223- LOOP.

How to delete an account

You can remove your account from the system if you no longer wish to be part of the Lending Loop platform. To do so, contact customer support or send an email to the company or call for further instructions.

Be prepared that you may be asked to identify yourself and confirm that it is you.

Email: lenders@lendingloop.ca Phone Number: 1-888-223- LOOP.

FAQ

How does Lending Loop work?

Lending Loop operates as an online peer-to-peer marketplace. It sells promissory bills to finance companies that need money for their business needs. 

The company accepts online applications and also creates online lists. Such a system saves time for borrowers and lenders.

How do I contact Lending Loop?

There are several ways to contact Lending Loop, depending on the reason. 

  • First of all, for general questions, one can use the contact form (if there are no relevant answers in the Help Center section or something is not clear from the available descriptions);

  • One can call 1-(888)-223-5667. The advisors are available from 9 a.m. to 6 p.m. from Monday to Friday. 

Calculate loan payments in Lending Loop

Lending Loop calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
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Enter the desired loan amount

CAD
CAD
USD
1000 $
500000 $
Loan term
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Specify the loan term for the calculation

months
days
3
60

What to pay attention to when applying for a loan from Lending Loop

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Lending Loop from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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