Please pardon the semi delayed announcement.  I want to make sure that they had really launched…  Will coborrowing reduce risk?  Does platinum verification make you feel warm and fuzzy?

I will be trying Loanio as I have all the other p2p lending opportunities for which I am eligible.

If you would like to try loanio please consider using my referral link.  Signup with this link as a lender and you will receive a $25 signup bonus. https://www.loanio.com/users/signup/aAcSpqfZ343atracG22e/RateLadder

• Loanio Forum

• Loanio Launch Coming Today (or tomorrow or the next day or the day after that or …)

• Lend $5000 on Lending Club Get $250 or More

• LendingClub Advertisment on RateLadder — $25-$50 signup Bonus

• Loanio in “Final Pre-Beta Testing”

• Investments Opportunities to Make Money

• Real Estate Opportunities

• Businesses for Sale Opportunities

• Platinum Age 1897-1937 Comics Collectibles

• Platinum Palladium Bullion Coins Paper Money

I was just told by the Loanio CEO that barring any last second hangup to expect the launch of Loanio today.

I noticed that they have a blog too: Loanio Blog

Good luck Loanio, we have been looking forward to your launch for quite some time…

• Loanio is Expecting Launch within Days

• Loanio Forum

• Loanio in “Final Pre-Beta Testing”

• Loanio Launched, $25 signup Bonus to new Lenders

• RateLadder Lending Club Update

• Good Charlotte G Rock, Pop Music Memorabilia Entertainment Memorabilia

• Real Estate Opportunities

• Businesses for Sale Opportunities

• Commercial Real Estate Opportunities

• Land Real Estate Opportunities

I have been having an ongoing email conversation with Michael Solomon the CEO of Loanio for quite some time… In fact, he originally bought advertising on this blog over a year ago. While still hesitant to give an exact date, he told me in no uncertain terms that Loanio is in the final stages of preparing for launch and that both “final security audit and legal compliance audit” are the final hurdles to launch and both are wrapping up.

You may recall I mentioned seeing Loanio at Finovate in SF. To me their most interesting feature is the possibility a co-borrower for bad credit borrowers. I am interested in seeing the impact of the co-borrower on the fundability of bad credit loans in the peer to peer marketplace.

Tom at Prosper Lending Review has some screen shots and a writeup about the inside access he was given.

I expect after many delays that this time is for real and I for one am interested to see if the entrance of a Prosper competitor can re-energize the p2p lending space the way Lending Club and Prosper did in early 2008. Competition breeds innovation and innovation is good for consumers. Welcome Loanio I hope your launch is highly successful.

• Loanio Launch Coming Today (or tomorrow or the next day or the day after that or …)

• Loanio Forum

• Loanio in “Final Pre-Beta Testing”

• Loanio Launched, $25 signup Bonus to new Lenders

• One Tip Prosper.com Borrowers Ignore That They Shouldn’t

• Current Year, Next Year Calendars Paper Collectibles

• Michael Kors Womens Shoes

• Halcyon Days Decorative Collectible Brands Decorative Collectibles Collectibles

• New Year Holiday, Seasonal Collectibles

• New Year Holidays Postcards Collectibles

I will have bunch more to say about finovate startup from netbanker when I have a chance to write it down in a form worthy of publishing, but felt like I should say a few quick comments about the future p2p lending upstart: Loanio.

I had the pleasure of speaking with founder Micheal Solomon (founder and CEO) after the demo and here are the highlights…

• Like Prosper in terms of reverse dutch auction.
• Allows for co-borrowers (co-signers) and requires co-borrowers for low scores (Experian VantageScore, no floor set yet for co-borrower).
• Not worried about the legal issues surrounding Lending Club “quiet period“
• Launching in the next “2-3 weeks”

In summary, loanio looked like a Prosper clone with the added feature of co-signers…  It could be interesting… stay tuned for the rest of the finvovte details and any loanio information.

• Loanio is Expecting Launch within Days

• Loanio in “Final Pre-Beta Testing”

• Loanio Launch Coming Today (or tomorrow or the next day or the day after that or …)

• RateLadder Lending Club Update

• Loanio Launched, $25 signup Bonus to new Lenders

Another late loan and another withdrawal.  Eagerly awaiting the end of the “quiet period.”  I think competition is good for the market and at the exact moment it feels like Prosper is the loan dog (pun intended) in the p2p lending market…  Zopa provides a CD and Lending Club doesn’t have lenders.  Will loanio launch at finovate startup?  Are there others in stealth mode waiting to launch…  Now seems like the time… 

• Lending Club Recharicterzation

• Prosper vs Lending Club — The First 100 Days

• Lending Club Forum

• Prosper vs Lending Club — The First 100 Days Take 2

• Lending Club Referral Program Expanded to Affiliates

• Canadian Club Distillery Advertising Collectibles

• Club Heads Clubmaking Products Golf

• Signature Club A Blush Makeup Store

• Signature Club A Eye Shadow Makeup Store

• Signature Club A Foundation Makeup Store

It has been a while since I have thought about loanio…  In fact, the last finvoate (at which they didn’t appear, but initially were scheduled too) was the last time I recall thinking about them…

Well, this year’s finvoate startup is supposed to have loanio (and Prosper)…  So this evening I dcided to revisit their site for the 1st time a while…

Their website was sporting a banner that read “final pre-beta testing in progress”…  I hope they are at finovate startup…

• Loanio is Expecting Launch within Days

• Loanio Launch Coming Today (or tomorrow or the next day or the day after that or …)

• Loanio Launched, $25 signup Bonus to new Lenders

• Loanio Forum

• Quick Finovate Comments — Loanio

• Evening Bags Handbags

• Evening Womens Shoes

• Pool Chemicals Testing Pools Spas Yard, Garden Outdoor Living

• Final Fantasy Japanese, Anime Animation Art, Characters Collectibles

• CDs, Soundtracks Final Fantasy Japanese, Anime Animation Art, Characters Collectibles

A couple of peer-to-peer (p2p) lending articles came out in major publications over the weekend…  Enjoy…

The ChicagoTribue: Peer-to-peer lending helpful, but know rules

Sometimes you have to take matters into your own hands.

At least that’s the mind-set of individuals who lend and borrow money from each other online, known as peer-to-peer lending. In this virtual community you may stand a better chance of obtaining a loan for your start-up business or earning an attractive return.

But though based on self-rule, peer-to-peer lending is not without its conditions. Consider the following before you forgo the bank entirely. [...]

The Washington Post: You Can Lend P2P, but Can You Collect?

In the wake of the subprime mortgage meltdown, traditional financial institutions have tightened up on who gets to borrow money. But some people are still finding ways to borrow what they need, thanks to another area of lending that is booming.

Person-to-person lending, or “social” lending, is growing at a phenomenal pace on the Internet as consumers look for an alternate way to pay off debt, according to new research by Javelin Strategy & Research. Javelin predicts that the demand for person-to-person lending services, or P2P, to pay off credit card debt may grow from $38 billion to $159 billion over the next five years.  [...]

• Lending Club Recharicterzation

• Lending Club on ABC News

• Prosper and Lending Club on CBS News Nationwide

• P2P Lending in Chicago Daily Hearld and The Denver Post

• RateLadder Lending Club Update

• Publications Publications Supplies Coins Paper Money

• US Publications Publications Supplies Coins Paper Money

• World Publications Publications Supplies Coins Paper Money

• Publications Supplies Coins Paper Money

• Supplies Publications Supplies Coins Paper Money

What opinions do you guys have on how the sub-prime mortgage meltdown will affect peer to peer lending?  I’ll confess I’m still spooked at the moment and working to draw down my balance at Prosper.  From things I’ve been reading, it would appear that the worst is still yet to come, what with a large chunk of ARM borrowers set to reset between now and mid 2008.  What do you guys think?  Will p2p lending suffer when a lot of these people default?

This was posted by Jimmy211 at the P2P No Bank Forum…  here is a link: Sub-Prime Mortgage Meltdown

RateLadder responded with

I have read 2 schools of thought.  1 is that it will as you are saying.  The other is that people do everything possible to cut a deal with their mortgage provider and protect their consumer credit.  

As an unsecured loan we are last in line in bankruptcy and that is why loan rates are higher on unsecured loans.

Personally I have always been chasing the highest rates.  But I have recently be focusing on the cleanest of the clean credit (flight to quality.)

• Prime Borrowing on Prosper Hits Record Levels — Febuary Marketplace Survey

• November 2007 Prosper Marketplace Survey with Commentary from Kirk Inglis CFO

• Hey, Brother, Can You Spare A Dime?

• November Prosper Marketplace Survey Released

• Prosper’s People-to-People Lending Market Survey

• New Balance Womens Shoes

• Large 9x7-9x12 Rugs, Carpets Antiques

• Large Cents Coins US Coins Paper Money

• Furniture, Large Appliances Furniture, Appliances Fans Collectibles

• Large Cents Coins Canada Coins Paper Money

P2P No Bank has launched independent forums covering all p2p lending sites — including Loanio.  Loanio has yet to launch, but is still planning a fall 07 release to the best of my knowledge. 

Have better information? Speculation as to what will set Loanio apart from the other p2p lending sites?  Let’s discuss. http://www.p2pnobank.com/forum Here is the link to register: register

• Loanio Launch Coming Today (or tomorrow or the next day or the day after that or …)

• Lending Club Forum

• Loanio in “Final Pre-Beta Testing”

• Loanio Launched, $25 signup Bonus to new Lenders

• Loanio is Expecting Launch within Days

• Bank of Canada Canada North, Central America Paper Money World Coins Paper Money