www.loanio.com
HQ Location: New York, New York
Product Being Demoed: Loanio.com
Product Launched: Not yet (May 2008)
Metrics: 6 employees, <$500,000 raised
How they describe themselves:
Loanio.com is a new peer lending website that facilitates the borrowing and lending of money between individuals and institutions through an auction-style platform.
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 enable all borrowers, regardless of their credit profiles, the ability to participate.
- An ID and Financial Document Verification service which 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.
Executives: Michael Solomon (CEO & Founder), Stanley Solomon (Executive VP)
Investors: Funded by founders. Additional investors TBA.
Contacts:
Bus. Dev. & Press – Michael Solomon, CEO & Founder, msolomon@loanio.com, 845-624-4400x255
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