Comments on: What I Intend with CommunityLend http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/ Discover my world and the power of being. Tue, 07 Sep 2010 01:01:20 +0000 http://wordpress.org/?v=abc hourly 1 By: Idetrorce http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-2281 Idetrorce Sun, 16 Dec 2007 07:12:52 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-2281 very interesting, but I don't agree with you Idetrorce very interesting, but I don’t agree with you
Idetrorce

]]> By: P2P-Banking.com http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-224 P2P-Banking.com Mon, 16 Jul 2007 09:42:14 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-224 Would be glad if you publish your experiences, once you started lending in Canada. For international developments on p2p lending see P2P-Banking.com Wiseclerk Would be glad if you publish your experiences, once you started lending in Canada.

For international developments on p2p lending see
P2P-Banking.com

Wiseclerk

]]> By: Puissance http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-84 Puissance Sat, 12 May 2007 17:29:27 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-84 Hi Jackie, the about page at CommunityLend says, "Our intent is to be up and running fully by the fall of 2007 – this time with real money." In a few months, CL should be ready and I'm guessing that the preview will be happening soon. I've already entered my email to be notified. http://www.communitylend.com/preview/about Hi Jackie, the about page at CommunityLend says, “Our intent is to be up and running fully by the fall of 2007 – this time with real money.”

In a few months, CL should be ready and I’m guessing that the preview will be happening soon. I’ve already entered my email to be notified.

http://www.communitylend.com/preview/about

]]> By: Jackie http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-83 Jackie Sat, 12 May 2007 17:19:06 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-83 I would like a SERIOUS guess as to WHEN this will actually be UP AND RUNNING. Do you have a REALISTIC target date? If so, what is it? I currently use prosper.com for some U.S. funds and have some Canadian funds that I'd like to get into community lend. THANKS!! I would like a SERIOUS guess as to WHEN this will actually be UP AND RUNNING. Do you have a REALISTIC target date? If so, what is it? I currently use prosper.com for some U.S. funds and have some Canadian funds that I’d like to get into community lend. THANKS!!

]]> By: MJ http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-78 MJ Thu, 10 May 2007 03:48:15 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-78 It sounds cool and all but even though I'm part of the younger generation, it still sounds iffy to me. I'm very comfortable with e-commerce and online transactions but trading money to a complete stranger gives me the feeling that there's this huge hump that I can't get past. Even for those who trust eBay, this is a whole new level where you're not trading items for money, but just flat out lending out money for some interest that you may or may not end up getting. As for those who aren't comfortable with eBay, then needless to say, I doubt that these people would start lending out money at all. Further, I have a feeling that it will involve fairly large sums of money as you mentioned people needing it to start a new business. Although the larger the sum, the more lucrative the rewards, this high risk high reward structure is definitely not for everyone. It will take a while to build up trust but I can envision P2P lending to be part of someone's portfolio in the future sometime. It sounds cool and all but even though I’m part of the younger generation, it still sounds iffy to me. I’m very comfortable with e-commerce and online transactions but trading money to a complete stranger gives me the feeling that there’s this huge hump that I can’t get past. Even for those who trust eBay, this is a whole new level where you’re not trading items for money, but just flat out lending out money for some interest that you may or may not end up getting. As for those who aren’t comfortable with eBay, then needless to say, I doubt that these people would start lending out money at all. Further, I have a feeling that it will involve fairly large sums of money as you mentioned people needing it to start a new business.

Although the larger the sum, the more lucrative the rewards, this high risk high reward structure is definitely not for everyone. It will take a while to build up trust but I can envision P2P lending to be part of someone’s portfolio in the future sometime.

]]> By: Puissance http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-77 Puissance Thu, 10 May 2007 00:32:31 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-77 Chhai has a good point. The preview should show us how the "regulatory safeguards" work though. Stating that CL will indemnify in full upon a fraudulent event is quite surprising. It will give people more confidence in CL and at the same time, push CL itself to constantly improve preventive measures. Perhaps new laws and regulations will form when P2P lending and borrowing become more popular in Canada. Technology is moving too quickly for people to catch up. The baby boomers are not confident in e-commerce, so I have a feeling that there won't be a sudden transition. Whereas entertainment is not as essential as banking, people are more open to trying it (iTunes, Skype, etc.). Money is important to many people and that is why people like cash; they can physically hold on to it. But if it's something like trading money online, I don't know if Canadians are willing to do that. They must feel that it's secure and safe. Because I'm from a younger generation, I'm really looking forward to participating. How about everyone else? How large do you think the market is? Chhai has a good point. The preview should show us how the “regulatory safeguards” work though. Stating that CL will indemnify in full upon a fraudulent event is quite surprising. It will give people more confidence in CL and at the same time, push CL itself to constantly improve preventive measures. Perhaps new laws and regulations will form when P2P lending and borrowing become more popular in Canada.

Technology is moving too quickly for people to catch up. The baby boomers are not confident in e-commerce, so I have a feeling that there won’t be a sudden transition. Whereas entertainment is not as essential as banking, people are more open to trying it (iTunes, Skype, etc.). Money is important to many people and that is why people like cash; they can physically hold on to it. But if it’s something like trading money online, I don’t know if Canadians are willing to do that. They must feel that it’s secure and safe. Because I’m from a younger generation, I’m really looking forward to participating. How about everyone else? How large do you think the market is?

]]> By: Philip http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-76 Philip Wed, 09 May 2007 22:12:22 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-76 I think the social borrowing and lending concept is brilliant. I really hope that CommunityLend is very succesful!! In my mind, any industry making huge profits off its customers are up for disruption. We saw it with entertainment (iTunes) and telecoms (Skype)... is banking next? I think the social borrowing and lending concept is brilliant. I really hope that CommunityLend is very succesful!! In my mind, any industry making huge profits off its customers are up for disruption. We saw it with entertainment (iTunes) and telecoms (Skype)… is banking next?

]]> By: Colin Henderson http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-75 Colin Henderson Wed, 09 May 2007 18:25:31 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-75 Thanks for the discussion here. Re fraud, we will protect lenders in CommunityLend from fraud, both by doing everything in our power to prevent fraud, but in the event something slips through, we will indemnify in full. Security, and protection are paramount for CommunityLend. We are also holding ourselves to the highest standard against all the Canadian regulations, and they are designed to protect Canadians, and we look forward to your views when we publish our regulatory safeguards. Re success, as Canadians, we are careful, but also thoughtful in terms of getting the best deal, and the one thats right for us, and people helping people is what being Canadian is all about. Thanks for the post. Thanks for the discussion here. Re fraud, we will protect lenders in CommunityLend from fraud, both by doing everything in our power to prevent fraud, but in the event something slips through, we will indemnify in full. Security, and protection are paramount for CommunityLend. We are also holding ourselves to the highest standard against all the Canadian regulations, and they are designed to protect Canadians, and we look forward to your views when we publish our regulatory safeguards.

Re success, as Canadians, we are careful, but also thoughtful in terms of getting the best deal, and the one thats right for us, and people helping people is what being Canadian is all about.

Thanks for the post.

]]> By: Chhai http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/comment-page-1/#comment-74 Chhai Wed, 09 May 2007 12:40:56 +0000 http://www.puissance.ca/blog/2007/05/08/what-i-intend-with-communitylend/#comment-74 It's a innovative idea but what are the contractual agreements like? It also sounds like a place of fraud as well... so who knows. In all honesty I think it will fail. It’s a innovative idea but what are the contractual agreements like? It also sounds like a place of fraud as well… so who knows. In all honesty I think it will fail.

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