The final demo of the morning is from Michael Solomon, founder of Loanio.

Loanio, which launched Oct. 1, is the third person-to-person loan marketplace to open in the United States. It provided a sneak peek of its platform at Finovate Startup in April ’08.  

Loanio believes this is a great time to launch a P2P lending company. Both borrowers and investors are looking for alternatives.

Solomon walked the audience through the Loanio loan application process — emphasizing the option to have a co-borrower, a first for a U.S. P2P lender — and the optional Platinum loan listing, which includes a host of verifications to give lenders more assurance the borrower is being truthful on the application.