Wednesday, February 16, 2011Short Month, Big Goals
It was a year ago this month, that CommunityLend formally launched Canada’s first and only online loan marketplace
. It has been a great first year. As we look towards our goals and plans for this coming year it is easy to state that we are really just getting started. We have a number of new products that we are currently working on and a number of exciting partnerships in the coming months, so stay tuned.
In this month's newsletter, we’re pleased to share our most recent market metrics, a new partnership announcement and some great press we received last month.
Online Loan Marketplace Stats
- Loan Demand increased significantly last month to $10.96 Million.
- Loan Requests Accepted and available for investment increased to $1.33 Million.
- Our Cumulative Average Loan Size for Accepted Loans moved down slightly to $9,370.
- Our Cumulative Average Offered Interest Rate moved up slightly to 14.32%.
- Our excellent delinquency track record continues at 0.00% on all loans originated to date.
Exclusive Financing Sponsor of HomeStars Best of 2010
This month we announced that we are sponsoring the HomeStars Best of 2010 Awards Shows!
This is the first collaboration in an expanding partnership with HomeStars to promote FinanceIt.ca, our new service that allows home renovation companies to increase sales by offering financing.
Every year, HomeStars, the popular user review site, celebrates the best home renovation companies across Canada. Companies make the Best Of List based on the ratings and reviews from the homeowners that hired them in that year.
Many of us on the CommunityLend staff have personally used HomeStars for years. It is with delight that we can support the Canadian home renovation industry in this way, and to introduce these outstanding companies to FinanceIt.ca.
CommunityLend in the news
Michael interviewed on BNN
On January 21st, CommunityLend CEO, Michael Garrity, was honoured to be asked onto BNN’s Alternative Investing show to speak about Peer-to-peer lending in general and CommunityLend, specifically. Here is the video of Michael being interviewed by Andrew Bell, and David Kauffman.
Michael interviewed on CBC's Lang & O’Leary
Also in January, we were greatful to be asked to appear on the Lang & O’Leary Exchange on CBC TV to explain CommunityLend. CommunityLend CEO, Michael Garrity appears at 48:45 in this clip.
CommunityLend featured in Business in Vancouver in January 2011
We were fortunate enough to have this excellent article on us by Richard Chu in “Business in Vancouver” in January. The site requires registration, so here is the first paragraph, and a pdf of the article.
"A Toronto-based peer-to-peer lending company is gaining traction in B.C. after spending most of last year obtaining financial and securities regulator approval to operate in the province."
Past announcements
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