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New Person-to-Person Lender Loanio Readies for Launch

Just as the dust was clearing from the latest social lending launch, Lending Club, which opened on Facebook exactly one week ago (coverage here), we received word of another P2P lending exchange Loanio. The founder is revealing little about the new company at this point, but you can see from its logo and tagline, People Lending to People, what market it has its eyes on. 

Loanio's one-page website allows you to enter your email address for future notifications. We'll be covering all six North American P2P lenders (see note) in an upcoming update to last year's Online Banking Report on the market for P2P loans. (Hint: we will publish a longer-term forecast which will show more robust opportunities past the 2006-2011 period we looked at in our last report.)  

Note:

Right now the North American market consists of five pure P2P lenders:

  • Prosper (US, launched Feb. 2006)
  • Zopa (UK, but coming to the US in 2007)
  • Lending Club (US, launched 25 May, 2007)
  • Community Lend (Canada, not launched)
  • Loanio (US, not launched)

Plus, P2P loan servicer:

  • CircleLending (now owned by Virgin USA, launched 2001)