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A Special Introductory Offer for Borrowers and Lenders until April 30, 2010

Chinese philosopher Lao Tzu is noted to have once said that “A journey of a thousand miles begins with a single step”.

Our journey here at CommunityLend is to change the rules of Canada’s lending industry by connecting borrowers looking for better rates to lenders looking to invest directly in consumer loans.

To get this journey started we need Canadian borrowers and lenders to take the first step and to join us.  So, we have decided to make the first step of joining us even easier.

To help get Peer-to-Peer lending in Canada off to the right start, we are announcing that from now until April 30th, 2010, Communitylend will be waiving* fees for both Lenders and Borrowers as a special introductory offer for early participants.  Specifically:

  • For Borrowers – we will rebate back our Borrower Adminstration Fee for any Borrower loan that closes between today and April 30th, 2010. (full details below)
  • For Lenders:  we will rebate back our Lender Annual Adminstration Fee for all closed Loans in which a Lender participates before April 30th, 2010 for a subsequent period of 6 months from the closing date of each Loan. (full details below)

We have all waited long enough to have a Peer to Peer lending option in Canada, so let’s get started!  If you are a borrower looking for a better interest rate for an unsecured loan or an Accredited Investor looking for the opportunity to participate directly in the consumer lending market, CommunityLend is here for you.

Just follow this link to get started now!

- The CommunityLend Team

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*Terms and Conditions for Fee Rebate Offer:

Borrower Offer:

All registered Borrowers at CommunityLend whose loan request closes at any time before midnight on April 30th, 2010 will be rebated the full amount they paid for their Borrower Adminstration Fee.

Terms and Conditions:

  1. This Offer applies to all existing and new Borrowers who have a loan request that closes successfully before midnight (Eastern Daylight Savings Time) on April 30, 2010.
  2. Only loans closed AND disbursed in approved loans within the offer period will be eligible.
  3. Borrower Adminstration Fee rebates will be credited to eligible Borrower accounts within 15 days of a loan request closing in a successful loan.
  4. CommunityLend reserves the right to amend, withdraw or extend any or all elements of this promotion at any time, without prior notice.
  5. This offer cannot be combined with any other offer, promotion, discount or scheme offered by CommunityLend or any other body.

Lender Offer:
CommunityLend will rebate our Lender Annual Adminstration Fee to any registered lenders for all closed Loans in which a Lender participates before midnight April 30th, 2010 for a subsequent period of 6 months from the closing date of each Loan.

Terms and Conditions:

  1. This Offer applies to all existing and new Lenders who make successful Loans in the CommunityLend online lending system before midnight April 30, 2010.
  2. Only funds credited AND disbursed in approved loans within the offer period will be eligible.
  3. Funds loaned may include existing funds in a Lender’s holding account with CommunityLend, on offer, in processing, or received as repayments from existing loans.
  4. CommunityLend will continue to collect Lender Annual Adminstration Fee as outlined in the Lender Registration Agreement and then will rebate the lenders account on a monthly basis for a period of 6 months for each loan applicable under this program.
    • Example: A Lender participates in two Loans which close on February 15, 2010 for $1,000 each and one loan which closes on March 15, 2010 for $500. The Lender will be rebated their relevant Lender Annual Adminstration Fee for the first two loans on a monthly basis for 6 full months from February 15, 2010 and for the second loan on a monthly basis for 6 full months from March 15, 2010.
  5. Lender Annual Adminstration Fee rebates will be credited to eligible Lender accounts within 15 days of the Lender Fee being withdrawn from the Lender account every month.
  6. CommunityLend reserves the right to amend, withdraw or extend any or all elements of this promotion at any time, without prior notice.
  7. This offer cannot be combined with any other offer, promotion, discount or scheme offered by CommunityLend or any other body.