Anyone use it? Opinions?

Sure, the loans could go bad, but if you break your investment into smaller chunks, probably less risky than share investing, and the 5 year return is pretty good.

Have a look at unlisted property trusts.

I have been getting 8% p/a from day one, increased to 8.75% over 6 years with a 25% capital growth and the unit holders will be voting on whether to extend the trust for another 5 years soon.

Neither capital nor returns are guaranteed.

Returns are "tax advantaged" and the tax liability is offset against capital gains on sale of the building.

When the tenant in the building is federal or state government or a bank, the risk factor is low.

This is one source from a Google search. I am not recommending it but you may learn something there.

capita.com.au/?gclid=EAIaIQobChMI5N7o3Ynv2wIViY2PCh0j6Q9_EAAYASAAEgJWBfD_BwE

As usual, do your own diligence and putting all your eggs in the one basket has been proven historically to be an unwise investment strategy.

the risk for return is way out of whack having just had a quick look.

6 times more bad debts % than a bank tells you the risk
unsecured loans

vs a lower return than you can get for secured commercial mortgages or a bank dividend.

short term check out trilogy and its ilk 7.5% secured, longer term unlisted property trusts are still attractive but make sure you get one that is locked up till we are past the next cycle ie 5 years plus or it will possibly be sold for a loss in the coming downturn. I would avoid listed trusts for that reason.

do your own research all just personal opinion not advice etc etc etc

Have used it for the last couple of years with a moderate amount and no issues. Tend to just stick to the 1 month (around 3%) but did do a 1 year early on. If you leave it to automatically renew you can get a pretty poor rate at times. I do it manually to avoid the lows. Good info about the volumes in the market allow you to pitch your rate.