DELRAY BEACH, Fla., Jan. 27 /PRNewswire-FirstCall/ -- WikiLoan, Inc. (OTC Bulletin Board: WKLI), a financial social network today announced that it will begin a much anticipated marketing effort.
"It has been a long development process, but from a technology standpoint, we are finally in a position to begin marketing our peer-to-peer lending tools platform," said Marco Garibaldi, WikiLoan's Founder and CEO.
Membership is free on WikiLoan. Borrowers are charged $15 to create a loan listing; which verifies their identity, gives them a WikiScore based on their credit ratings, allows them to create and post a loan listing, send invitations to view the listings to their friends, and more. When the borrower has a lender or lenders to fill their loan request, WikiLoan charges a $35 fee to compile the Promissory Note. Lenders pay a fee of 1/12th of 1% of the adjusted outstanding principle per month to use WikiLoan's management tools. Some of the tools include but are not limited to: automated monthly payment reminders sent to borrowers, automated lender portfolio balance sheets and payment schedules, transaction history and archiving of promissory notes.
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.
Investors may contact: WikiLoan, Inc., 561-865-5310.
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.
SOURCE WikiLoan, Inc.