Invest in people. Invest in CommunityLend.
The opportunity
The unsecured consumer loan marketplace in Canada exceeds $100 Billion in volume every year and generates interest payments on those loans exceeding $15 Billion annually. By definition, “unsecured” loans are often small loans used for purposes like funding a wedding or paying off high interest credit card debt, for which the lender has not taken security to support the loan.
Today in Canada, this very profitable industry is also a very closed industry, with only a handful of major companies involved. This means that a very small list of banks and credit cards companies are the sole beneficiaries of one of this country’s most profitable industries.
Our Solution
CommunityLend intends to open up this billion dollar industry to other eligible Lenders interested in participating. Share the wealth, we like to say!
To keep things as safe and secure as possible we will use virtually the same processes and service providers as banks and credit card companies use for validating identity, sourcing credit information, moving money between parties and enforcing collections. The difference is that we will be working for you.
Sound Interesting?
For more information on being a Lender during our beta launch with CommunityLend, enter your email address below and we will keep you informed on our progress.