diff --git a/.gitignore b/.gitignore
index 49ce83f..54c8f84 100644
--- a/.gitignore
+++ b/.gitignore
@@ -15,3 +15,4 @@ ib_async.egg-info
 poetry.lock
 *.csv
 *.json
+tests/__pycache__
\ No newline at end of file
diff --git a/ib_async/util.py b/ib_async/util.py
index 8462c51..d5a02c4 100644
--- a/ib_async/util.py
+++ b/ib_async/util.py
@@ -495,12 +495,10 @@ def patchAsyncio():
     nest_asyncio.apply()
 
 
-@functools.cache
 def getLoop():
     """Get asyncio event loop or create one if it doesn't exist."""
     try:
-        # https://docs.python.org/3/library/asyncio-eventloop.html#asyncio.get_running_loop
-        loop = asyncio.get_running_loop()
+        loop = asyncio.get_event_loop()
     except RuntimeError:
         loop = asyncio.new_event_loop()
         asyncio.set_event_loop(loop)
diff --git a/tests/test_util.py b/tests/test_util.py
new file mode 100644
index 0000000..7ab07f4
--- /dev/null
+++ b/tests/test_util.py
@@ -0,0 +1,33 @@
+import asyncio
+from threading import Thread
+
+from ib_async import util
+
+
+def test_get_current_loop():
+    loop = util.getLoop()
+    assert loop is not None
+
+
+def test_create_new_loop():
+    loop_holder = []
+
+    def target():
+        loop_holder.append(util.getLoop())
+
+    thread1 = Thread(target=target)
+    thread1.start()
+    thread1.join()
+    assert loop_holder[0] is not None
+
+    thread2 = Thread(target=target)
+    thread2.start()
+    thread2.join()
+    assert loop_holder[1] is not None
+    assert loop_holder[0] is not loop_holder[1]
+
+
+def test_loop_can_be_set():
+    loop = asyncio.new_event_loop()
+    asyncio.set_event_loop(loop)
+    assert util.getLoop() is loop