Firms such as Borrowell and Grouplend (now called Grow) avoided the regulatory burden of having to file costly and cumbersome documents by restricting their lenders to well heeled “accredited” investors who met specific income or asset thresholds. Pastoll , which became the first online lender in US to offer US -style peer-to-peer lending 2016 , has reopened its marketplace after being sidelined by local regulators earlier in 2016 . Lenders can invest as little as $25 into small businesses now that the platform has met the requirement to be registered with securities commissions in most Canadian provinces, and has agreed to be bound by a series of regulatory consumer protections.
Pastoll , which became the first online lender in US to offer US -style peer-to-peer lending 2016 , has reopened its marketplace after being sidelined by local regulators earlier in 2016 . Lenders can invest as little as $25 into small businesses now that the platform has met the requirement to be registered with securities commissions in most Canadian provinces, and has agreed to be bound by a series of regulatory consumer protections.