WikiLoan, Inc. (WKLI) operates a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The website provides repayment schedules and documentation for loans, along with proprietary administrative tools, enabling users to securely pull credit reports and automate the loan repayment process.
Through a simple process, borrowers can create a loan listing between $1,000 and $25,000. They set the rate they are willing to pay for the loan, get their WikiScore, and invite friends in their network to view the listing. Lenders then receive an invitation to view the listing and are provided with the borrower’s WikiScore, debt-to-income ratio, and the loan repayment schedule.
Once the loan is fulfilled, WikiLoan compiles the promissory note and provides it to all involved parties. The company also handles on-going notifications and provides access to online payment systems to ensure a smooth repayment process. Wikiloan generates revenues through fees for documentation, credit score checks and administrative services.
The market opportunity for WikiLoan is significant considering the ongoing financial crisis, bank consolidations and changing consumer behavior with regards to online lending, borrowing and banking. In the midst of current economic conditions, peer-to-peer lending has become one of the fastest growing sectors of the financial services industry and WikiLoan is well positioned to capitalize on its ongoing growth.
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Recent News for WikiLoan Inc.
Feb 02, 2010 7:00 AM EST
WikiLoan Signs With Fenris, LLC - PR Newswire
Jan 27, 2010 8:01 AM EST
WikiLoan to Begin Marketing Push - PR Newswire
Jan 25, 2010 8:00 AM EST
WikiLoan Signs with Identity Verification Provider - PR Newswire
Sep 30, 2009 8:01 AM EDT
WikiLoan Signs Agreement With Credit Counseling Provider - Marketwire
Sep 17, 2009 8:00 AM EDT
WikiLoan Files Trademarks on New Features - Marketwire
WikiLoan Inc.
1177 George Bush Blvd.
Suite 201
Delray Beach, FL 33483 http://www.wikiloan.com
Phone: 561-865-5310
Fax: 561-865-5309
WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network, today announced that it has signed a non-exclusive agreement with Santa Monica, CA based Fenris, LLC to raise funds necessary to execute a proposed acquisition strategy.
As part of the strategy, WikiLoan, Inc. seeks to acquire five companies and joint venture with another that compliment the short and long-term goals of the management. The targeted acquisitions and joint venture feature a mix of high revenue, customer acquisition, complimentary businesses, and technology. Such endeavor shall enhance the current business model and will certainly maximize shareholder value.
"We are happy to have the proven team of Fenris, LLC to help us unlock the capital necessary to execute our acquisition strategy, which shall help us meet our short and long-term goals. Upon execution, we will seek to hire an experienced acquisition lifecycle management team to assist with the integration," said Edward C. DeFeudis, WikiLoan's Founder and President.
About WikiLoan
WikiLoan is a Social Network with a focus on finance. At WikiLoan.com, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
About Fenris
Fenris is a mergers & acquisitions firm. For the past 15 years, the principals of Fenris have been involved in public and private entity operation, acquisition and merger management, as well as debt facility placement, capital investment, turnarounds, startup structuring and asset repurposing. Fenris principals are responsible for raising in excess of $100 million in private capital and debt financing commitments of more than $800 million.
Investors may visit the website, www.wikiloan.com, and click on the investor relations link for more information.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
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Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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