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SoMoLend Debuts its P2P Lending Platform


Second, SoMoLend launched its P2P lending platform:

“SoMoLend is debuting its peer-to-peer lending experience by which business borrowers can raise capital by securing loans from friends and family, customers, and community supporters. 

Simultaneously, lenders can invest in the industries they care about most in their own neighborhood, fueling local economy and doing well by doing good all while earning a return.”

Product Launched: Beta Launch: December 2011; Full Product Launch: May 2012

HQ Location: Cincinnati, OH
Company Founded: May 2011
Metrics: SoMo has over 1,000 borrowers seeking loans on our platform and we have closed on $1.2 million in seed capital. SoMo has 5 full-time employees and 6 contract employees.
Introducing Candace Klein (Founder & CEO) and Eric Elias (Director, Product Development)