After a few years and a handful of blog posts, I am at a loss for words other than to say I am glad things are finally rolling and CommunityLend is open for business in Ontario (for accredited investors).

Similar services have both thrived and suffered in the United States in the last 2 years. They have been occasionally targeted by regulators. Prosper.com for example is currently in a “quiet period“,

CommunityLend has taken a much different tact here in Canada however, and they chose to work with regulators rather than taking a litigious approach. In the end the hope is that this will mean a more stable and compliant environment for peer-to-peer lending in Canada.

Related posts:

1. IOUCentral – P2P Banking isn't always so simple?
2. CommunityLend Raises $2.5M
3. More Crowdsourced Capital – Colektivo readies for launch