Invest in people.
Invest at CommunityLend.
CommunityLend for Lenders
CommunityLend offers eligible Lenders an unprecedented online opportunity to lend to people looking to pay off a high interest credit card, people looking to pay for a wedding, even people trying to get an exciting new business idea started.
To get started, you need to sign up personally and certify or accredit yourself as an Accredited Investor. Once registered you may browse the Loan Requests in the CommunityLend Online Lending System and bid on the Loan Requests that best suit your lending and investment criteria. If your Bid wins, CommunityLend will complete its due diligence, complete the Loan Agreement, and automate the payment process. See our lending process to learn more about browsing Loan Requests right now.
What's involved
You must be an Accredited Investor resident in Ontario (for now) to register.
It is quick and easy; it will only take about 10 minutes of your time.
You should have handy:
- A blank cheque
- Your SIN number and Driver's License
- Recent bank and credit card statements
- Be prepared to answer Investor Suitability questions
(if you are not familiar with the term Accredited Investor ; includes amongst other criteria, those with family income over $300,000 or financial assets (not real estate) over $1,000,000) Institutional Lenders – click here
Best of all it's free to get started
And the best part about CommunityLend for Lenders is that it’s completely FREE to register, to create an account and to Bid on Loans. We do require you deposit a minimum of $100 into your Lender Account, however those funds remain yours to invest. CommunityLend charges fees to Lenders for administering their Loans, any collection activity that proves necessary, and for account withdrawals of less than $25.
Are you an Accredited Investor, ready to register, and start lending?
Your Lending Opportunity
Now in Ontario, investors have the opportunity to participate in the market for unsecured personal loans. Until now, this class of debt has been most readily accessed by traditional lenders such as financial institutions and credit card companies and inaccessible to other qualified investors interested in participating.
These traditional lenders have grown this industry to over $100 billion in volume with interest payments exceeding $10 billion annually [Source: Canadian Bankers Association www.cba.ca] Now, thanks to CommunityLend's Online Lending System, investors have the opportunity to participate.
If you would like to learn more about how much work goes into how CommunityLend verifies the identity of Borrowers, manages Loan disbursement and repayment or other aspects of our System, take a look at the Borrowing Process. To find out more on how CommunityLend is regulated please refer to Licenses and Regulations.
