SOURCE: WikiLoan, Inc.

WikiLoan, Inc.

August 11, 2009 13:26 ET

WikiLoan, Inc. Launches New Website to Expedite Family and Friends Lending

DELRAY BEACH, FL--(Marketwire - August 11, 2009) - WikiLoan, Inc. (OTCBB: WKLI), a Financial Social Network, announced today the launch of its new Family and Friends website:

WikiLoan is a Social Network much like Twitter, Facebook or MySpace yet with a focus on finance -- an essential feature that is missing in most social networks on the Internet today. At WikiLoan, family and friends can borrow and lend money among themselves at rates suitable to their respective needs. The company's website provides all the documentation necessary for the transaction along with proprietary administration tools, which enable users to securely pull credit reports and automate the loan repayment process.

Financial Social Network Market Opportunity

Celent, Inc., an international research and consulting firm focused on the application of information technology in the financial services industry, reports that there were $118 million of outstanding peer-to-peer loans in 2005. This figure grew to $269 million in 2006 and to $647 million by 2007. According to Celent, the market is expected to grow by more than 500% over the next three years.

Edward C. DeFeudis, co-founder of WikiLoan, said, "The market opportunity for the services offered by our company, relative to the ongoing financial crisis, is optimal. Many people who need loans now are not getting them. The unemployment rate is staggering and it looks like it may get worse."

"Those affected who need a loan and are able to find help from family and friends can use our service to facilitate the process and create a structure that is suitable and acceptable to all parties, often without the awkwardness that arises from it," DeFeudis said.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.

Contact Information

  • Investors may contact:
    WikiLoan, Inc.
    Frank Hawkins or Julie Marshall
    Hawk Associates
    Email Contact