Review of US p2p lenders and the state of regulatory regime in US
We have been quiet of late as we work through our own registration with Canadian regulators. In the meantime we actively watch the results of the existing lenders, including Lending Club in the US who are currently the only active and registered p2p lender with the US securities regime, the Securities and Exchange Commission (SEC).
This article contains references and photo’s of all the US sites and describes the current state of regulatory approvals in the US. The regulation in Canada is following a similar approach, and we still plan to be the first launched and approved p2p lender in Canada.
Where Credit Still Flows | Wall Street Journal
While still tiny, the social-lending business is gaining serious momentum. The dollar amount of outstanding loans jumped 41.7% in 2008 to $102 million, according to Jim Bruene, founder of Seattle-based NetBanker, which tracks the online finance world. Bruene figures that figure could hit $1 billion by 2013.
“The regulation in Canada is following a similar approach, and we still plan to be the first launched and approved p2p lender in Canada. ”
Any major licenses approved at the moment? Any being harder to get than expected?
Dan
April 25, 2009 at 5:12 am
@Dan … Getting closer but these things take time.
bankwatch
April 25, 2009 at 5:43 am
Just flagged P2P lending as an essential part of the economic recovery strategy to my Member of Federal parliament Liz Sandals today at a South Western Economic Conference in Guelph ON where numerous smallbusiness owners were bemoaning the lack of credit available for Small Business. She seemed quite interested and unknowing of hold ups in the Canadian security regulation system.
Get in touch and I’ll see if I can set up a meeting with you. She asked me to contact her with details.
Sharon Lewis
June 12, 2009 at 9:36 pm