CommunityLend Launch

CommunityLend which will be the first Canadian social lending site is due to open their doors for person-to-person lending very soon. The site will enable visitors to launch lending communities within the site to share financial experience, knowledge and goals. Reports on rates, regulations, and fees will follow.

Lending Club Borrower Interest Rates

Lending Club determines a borrower's loan grade through factors which include a borrower's credit history, current situation, income, debt., and amount of loan. Each loan grade is then assigned a corresponding interest rate as listed below:

Lending Club Rates:

Loan Grade A1: 7.37%
Loan Grade A2: 7.68%
Loan Grade A3: 8.00%
Loan Grade A4: 8.32%
Loan Grade A5: 8.63%
Loan Grade B1: 9.45%
Loan Grade B2: 9.76%
Loan Grade B3: 10.08%
Loan Grade B4: 10.39%
Loan Grade B5: 10.71%
Loan Grade C1: 11.03%
Loan Grade C2: 11.34%
Loan Grade C3: 11.66%
Loan Grade C4: 11.97%
Loan Grade C5: 12.29%
Loan Grade D1: 12.61%
Loan Grade D2: 12.92%
Loan Grade D3: 13.24%
Loan Grade D4: 13.55%
Loan Grade D5: 13.87%
Loan Grade E1: 14.18%
Loan Grade E2: 14.50%
Loan Grade E3: 14.82%
Loan Grade E4: 15.13%
Loan Grade E5: 15.45%
Loan Grade F1: 15.76%
Loan Grade F2: 16.08%
Loan Grade F3: 16.40%
Loan Grade F4: 16.71%
Loan Grade F5: 17.03%
Loan Grade G1: 17.34%
Loan Grade G2: 17.66%
Loan Grade G3: 17.97%
Loan Grade G4: 18.29%
Loan Grade G5: 18.61%