More competition can only mean better rates for you.
Get real competition for your Loan.
At CommunityLend, we believe that you deserve the best possible rate for your loan and that the most effective way to get that rate is by creating real competition. In the CommunityLend service, if there are many lenders who want to participate in your loan, then your loan will fill up quickly and your posted rate will begin to drop until it meets the point where demand levels off. This means that at CommunityLend , you are always getting the best possible rate available and you never get a rate higher than you are willing to accept. You are in control.
How it works.
After you sign up, you will create a loan request by using the tools provided to help you establish an offer rate, the right amount, and the description of your loan.
This loan request is then placed up for auction in the CommunityLend service and lenders, including some members of your own community, are able to bid for parts of your loan. When you get enough bids to complete your loan then loan documents and payment arrangements between you and the lender are created by CommunityLend and the loan amount is moved to your bank account.
Repayment of the loan is automatically taken care of by debiting your account every month.
Sound interesting?
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