CommunityLend blog

We have made a number of new system improvements to the CommunityLend lending platform to make bidding on Loan Requests and making Loan Request matches even easier. Below is an overview of two of these improvements with some screen shots of how they look inside CommunityLend.

Standing Bids. Standing bids are a new feature for both Lenders and Borrowers which helps making loan matches faster.

· For Lenders, a Standing Bid is an automated bidding tool which allows Lenders to set customized criteria for their bids for new Loan Requests. Once a Lender sets up a Standing Bid, the CommunityLend system will automatically bid their rates for them on any Loan Requests meeting their criteria.

· For Borrowers, standing bids are a new tool which shows them exactly where Lenders are interested in funding Loan Requests at any given time. This can help them choose the best rate to close their Loan Request more quickly.

New Loan Request Marketplace. Another important improvement which we introduced in March was “Phase One” of improvements to our Loan Request marketplace.

· In this first phase, the main improvement was to add “Expired” and “Closed” Loan Requests as well as “Active Loan Requests”. This way Lenders can see all Loan Request activity at CommunityLend over time.

We are also now working on a set of new Loan Request marketplace and Standing Bid functions which will make the Lender experience even better. Stay tuned.

As always, feel free to contact us with any questions you have.