Lending Loop is a Canadian peer-to-peer lending marketplace founded in 2015. It connects retail and institutional investors with established small businesses seeking unsecured finance. Lending Loop operates online with proprietary credit-assessment technology and offers fixed-rate term loans and revolving lines of credit. The platform suits incorporated Canadian businesses with at least one year trading history and annual revenue around £60,000 or more. For an overview of peer-to-peer lending, see our alternative finance loans and lenders pages.
Key features of Lending Loop
Lending Loop provides a fully digital approach to SME finance with transparent rates set by marketplace bidding. The platform offers quick funding and a weekly repayment schedule which may benefit cash-flow management.
- Online application portal with electronic document upload and automated credit checks via tools
- Fixed interest rates for term loans discovered through investor marketplace, enhancing transparency and competition
- Funding often available within 48 hours after approval, supporting rapid cash requirements
- Weekly repayment options assist with budgeting; loans are unsecured but require a personal guarantee guarantor
- Secondary investor market increases funding availability, broadening options beyond initial funding
Funding eligibility criteria
You may qualify for Lending Loop finance if your business has been trading for at least 12 months and generates approximately £60,000 or more annually. The platform excludes certain sectors such as adult entertainment, firearms, cryptocurrency mining, and gambling. Businesses must be incorporated or registered partnerships operating across Canadian provinces except Quebec. Personal guarantees from directors or owners are mandatory, and applicants with recent bankruptcies or poor credit are unlikely to be accepted. To explore further, visit our eligibility guide and credit score resources.
Loan options available
Lending Loop offers two main loan types: fixed-rate term loans and revolving lines of credit. Both are unsecured and tailored to established small businesses.
- Fixed-Rate Term Loan (Marketplace Loan): £3,000 to £300,000; terms from 3 months to 5 years; APR from 4.9% to 24.9% depending on risk grade. Features include fixed interest for the full term, no early repayment penalties, and weekly repayments. Personal guarantee required.
- Revolving Line of Credit (Loop Line): £6,000 to £60,000; open-ended term with annual reviews; monthly interest from 1.0% to 2.5% on drawn balance (equivalent to 12%–30% annually). Pay interest only on amounts drawn, with a 2% draw fee each time. Personal guarantee required.
How to apply for Lending Loop finance
The entire application process is online and can be completed quickly, often with credit decisions within a day or two. Applicants provide recent bank statements, financial statements or tax returns, and identification documents.
- Submit an online application through Lending Loop's digital platform, including business documents and photo ID forms
- Allow the automated credit model to assess your application based on banking data and credit bureau information
- Review and accept the offer digitally; once accepted, funds are typically deposited within 1 to 3 business days
- Maintain communication with Lending Loop's customer success team available by phone and live chat for support
Funding Agent’s view on Lending Loop
Lending Loop is a prominent Canadian peer-to-peer lender offering unsecured finance to established SMEs. Its digital process and flexible products make it suitable for businesses seeking up to £300,000 without collateral. However, firms requiring larger loans, face-to-face service, or those with less than a year trading history may need to consider other options. Use our tools and calculators to explore your borrowing potential and compare other business loans.
