How they describe themselves: Loanio is an auction based, peer lending platform where individuals can borrow or lend
money to each other. By cutting out 'traditional lenders,' and adding an auction based
element, borrowers can get lower rates and lenders can get higher returns than other
banking options.
What they think makes them better:
Loanio believes we will foster a greater level of security and confidence from lenders,
provide access to a significantly underserved borrower market, and consequently increase
the average number of loan originations.
Some of the site’s highlights include:
- A Co-Borrower (co-signer) feature, which will give all borrowers, regardless of their
credit profiles, the ability to participate.
- An ID and Financial Document Verification service that will provide lenders with
enhanced qualitative data on borrowers.
- A feature that allows borrowers to originate a loan when less than 100% of the
requested loan is successfully bid upon.
Key Executives: Michael Solomon (CEO and Founder)
Investors: Founder and angels. Other investors TBA.
Partners: Experian and JP Morgan Chase
Contacts:
Biz Dev: Mark Scott, mscott@loanio.com
Press: Jason Andrews, jandrews@loanio.com |
