Canadian Peer-to-Peer Lending Company CommunityLend Now Available in Quebec
CommunityLend, a Canadian peer-to-peer lending company, announced on January 29th that their service is now available to both borrowers and lenders in the province of Quebec.
In a short blog-post on their site titled “Welcome Quebec,” the company said “Starting today, Lenders and Borrowers from Quebec can now participate in the CommunityLend online lending system.”
Before last week’s announcement, the company was only operating in the province of Ontario. Since each province has unique lending regulations, the company must ensure that it is in compliance with all local lending laws before opening up to lenders and borrowers in that province. This is very similar to how Lending Club and Prosper Marketplace only operate in specific states because of lending legislation which varies on a state-by-state basis.
Read the rest of the story on our sister site, Lending Socially.com
