The first 30 days – a CommunityLend update
Link to email we just sent out to subscribers – copy below
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It is hard to believe that it’s been 30 days since the official launch of the CommunityLend peer-to-peer lending service. It took us a while to get here and now time is flying by.
As part of our commitment to keep our community apprised of our progress we’re starting the CommunityLend newsletter this month.
Early Activity is Positive.
Since our official launch in February, our first 30 days has seen a great deal of activity at the CommunityLend website. With almost no marketing during this period, we have already:
- Received over 28,000 unique visitors to our website
- Registered over 450 new members
- Received over $700,000 in Loan Demand, and
- Posted more than $70,000 in Loan Requests meeting our strict borrower criteria
Early lenders are actively bidding on loan requests and a good number more, both individual and institutional, are in the process of setting up their lending accounts.
We’ve still got a ways to go before we really "change the rules of lending" but the first month has us pointed in the right direction.
Early Feedback Has Proved Invaluable
When we started CommunityLend, we stated that our service would be based on the needs of our customers. During the first 30 days, we received some very valuable feedback from customers on things that they liked and didn’t like about the overall experience. We couldn’t be happier. Based on this feedback, we’ve already made two significant changes to the site and have many more coming. We’ve just launched a new borrower process which we expect to be clearer and faster for new borrowers and we have launched a new homepage with easier navigational features. Please keep that feedback coming in!
In the Press
The CommunityLend market launch continues to attract significant media interest and we appreciate such a positive market response to what we’re building. Here are few examples in case you missed them.
Share The Wealth
Please feel free to “share the wealth” and forward our newsletter to others who you feel could benefit from CommunityLend.
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Promotion Reminder – Fees Waived Until April 30, 2010
We continue to run a great early lender and borrower promotion, so there’s never been a better time to sign up!
It’s already free to register as a borrower or lender at CommunityLend and to help make your decision to join us even easier, from now until April 30th, 2010, CommunityLend is offering a special incentive to both borrowers and lenders!
For Borrowers:
We will rebate back ourBorrower Adminstration Fee for any borrower loan that closes between March 18th and April 30th, 2010.
For Lenders:
We will rebate back ourLender Annual Adminstration Fee for all closed Loans in which a lender participates before April 30th, 2010 for a subsequent period of six months from the closing date of each Loan. Click here for more details.
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