CommunityLend and the Portfolio Plus solution from SIT
We needed a technology solution that allowed the marriage of a loan management system with a modern web application. The result was an integration of our Ruby on Rails application with the industry strength Portfolio Plus application from Strategic Information Technology, and the early results indicate we made the right decision.
CommunityLend Goes Live with Peer to Peer (P2P) Lending
“We know its been a lot of work to pioneer this type of lending in Canada and we’d like to congratulate CommunityLend for enduring the numerous regulatory hurdles to make this happen,” said G. Robert Leeming, President of SIT. “We’re also proud that they’re the first customer to employ our Open Banking Interface in a production environment.”
This is great news, but when will Community Lend be available in other provinces such as Alberta?
Vlad
January 20, 2010 at 3:04 am
We are or will be working with different other jurisdictions, so expect to see additional provinces coming soon.
Colin Henderson
January 20, 2010 at 2:08 pm
Which province do you expect to be allowed to operate in next?
Alan
September 20, 2010 at 9:56 pm
Most likely next would be Alberta. But we are not scheduled there yet.
Colin Henderson
September 20, 2010 at 10:18 pm
what kind of timeline do you expect until you will be able to open in Alberta??
Jennefer
September 21, 2010 at 9:43 pm
Alberta will likely be sometime in 2011. No scheduled date yet.
Colin Henderson
September 22, 2010 at 9:42 am
Is there any data regarding defaults on the existing loans based upon the borrowers credit rating that have occured since community lends inception?
Alan
September 22, 2010 at 7:58 pm
There is but it is too early to form conclusions. There is just not enough volume nor elapsed time. However the good news is no defaults to date.
Colin Henderson
September 22, 2010 at 8:00 pm
Is that information that will be provided to lenders on a regular basis so they can build a solid strategy for investing? Or is that information internal?
Alan
September 23, 2010 at 8:34 pm
Are we getting close for Alberta yet? I have researched over and over and over again and I feel like this is my only hope, but I sure wish I lived in BC right now! How much longer for Alberta??
kristy schmitt
July 14, 2011 at 12:58 am
I’m with Kristy – any timeline for Alberta yet?
Curtis
August 24, 2011 at 11:47 pm