| By Jim Bruene on February 29, 2008 4:15 PM | Comments (2) |
In what it hopes is a temporary set-back, Canada's IOU Central has stopped taking new loan applications or accepting bids on existing ones. The company was launched two weeks ago (coverage here). Evidently, a bit more work needs to be done before the site is fully blessed by the Canadian government.
This might explain why IOU Central seemingly came out of nowhere to become the first Canadian P2P lender. We'll let you know what we hear from the founders. Thanks to Wiseclerk, via Prosper Lending Review, for the tip.
IOU Central homepage (29 Feb 2008)
Explanation of suspension (29 Feb 2008, 4 PM Pacific)
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I reaaaaally look forward to someone developing this business here in Canada. I also met the guy starting Colektivo.com here in Montreal, Quebec, which is also aiming to be a Canuck P2P platform. Personally, I'd love to set up my own (and bought microbanking.ca) but there's other business to attend to. Great to see someone's taking up the challenge at least!
I wonder what the status is?