CommunityLend Launched: January 11th, 2010
CommunityLend has officially launched.
More on this from me tomorrow evening (Tuesday).
For now, check out CommunityLend's front page or P2P-Lending's coverage.
It looks like it is Ontario only, but as we read before, it looks like they'll soon have approval for a few other provinces in Canada based on their legal filings.
I tried to register as a borrower in Ontario (which qualifies for their services) and with "Good" credit (I really don't know where I stand, it should be good, but my history is limited), and I got a cryptic error:
"
There was a problem registering; please correct the following issues before resubmitting:
- Requested role is not included in the list
"
I didn't doubt there wouldn't some growing pains :)
Eventually, with a different browser, I was able to get registered. I suppose some browser plugin was causing the issue. Their user agreements are in the annoying 5 line long boxes, ridiculous for a (needlessly?) long document. I'll fully register once I read through the agreement (well, I agreed to the first to signup, now I have to agree to yet another as a borrower).
private loans
Hello,
I'm new to the concept of P2P or private micro lending but looking for a loan asap in range of 10,000 - 15,000. Where do I begin looking?
Darel
Manitoba
this is not peer-peer
this is not peer-peer lending..
This is extremly RICH to poor lending..
The lender criteria is ridiculous....
The lending criteria is ridiculous. I am in the top 10% of income earners in my province, and I am not even close to the requirements set out as a lender.
I guess I will keep lending through my b.s. account in the states through prosper.
What a disappointment.
loan
Hi there I live in NB Canada and am not elligible for a p2p loan because I do not live in Ontario or Quebec, I am desperate for a 1000.00 loan to pay my overdue lot rent or I must vacate by this Monday, I work full time and can pay it back with no problem, the reason I am behind is because someone hacked into my bank account and I am out 1300.00, can you help me? Please email me if you wish, thank you for your time.
You have to be very RICH and
You have to be very RICH and then you can invest/lend. I will take my 25K somewhere else to invest..
This is UGLY
Well, with only accredited investor who can lend, this site is going to die out VERY SOON. (Read the qualification of accredited investor. You have to be a BANK, or someone who is VERY HIGH INCOME, or have LOTS OF MONEY. Come on .. I guess institutional investor with unlimited lending limit may find it interesting but then again, I can foresee a very high default rate on this. Trust me, I have been in the lending business for over 12 years, I can see it happen.)
OK, that's my 2 cents. I agree with the previous 2 posts that it is not a true P2P lending site. But that's not their fault, it is just our government.
It is a shame that the
It is a shame that the public has no access to investing. I do not need anybody to protect me against myself.
So frustrating that only
So frustrating that only approved lenders can use this site. Looking forward for the first microlending website in Canada.
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