CommunityLend To Cut Fat Middlemen With Social Lending
Today, I was approached by Dave Coleman who is a lead Community Advocate from a new social lending player, CommunityLend.
The whole concept of social lending is relatively new to me. In a nutshell, CommunityLend is an online marketplace that brings ordinary lenders and borrowers like us onto an efficient and nimble platform, thus bypassing most of the overheads from traditional banks and credit unions. This would ultimately leave a lot of money on the table.
“Share the wealth,” CommunityLend pledged.
Lenders benefit because according to CommunityLend, “To keep things as safe and secure as possible we will use virtually the same processes and service providers as banks and credit card companies use for validating identity, sourcing credit information, moving money between parties and enforcing collections.” You can visit the I Want To Invest page to learn more about becoming a lender.
As for borrowers, they stand […]
Original post by Financial Jungle Guy