IRVINE, Calif., March 3, 2010 (GLOBE NEWSWIRE) -- SectorWatch.biz announces the availability of a commentary of interest to investors in WikiLoan Inc. (OTCBB:WKLI) and other finance-related equities making news and driving markets today. Investors can view our free commentaries at: www.SectorWatch.biz – in association with FiSpace.net, a dynamic social networking site for investors.
Financial institutions have learned a quick and startling lesson. Banks with the strongest cash position stand to reap instant rewards as the FDIC continues to transfer loans and deposits from failed institutions to those with surplus capital. With this in mind, this new era of banking favors cash in the bank over a strong portfolio of loans. Sorry consumers. Your chances of obtaining that low interest loan don't look so good.
Never underestimate ingenuity spawned by market demand. WikiLoan (OTCBB:WKLI) has taken the bank back to the people. It's an idea that could be traced back to the very foundation of financial institutions. But it is made new again by marrying the most basic banking function, consumer lending, to the most leading-edge trend in technology, social networking.
WikiLoan is a financial networking or peer-to-peer banking portal matching lenders with borrowers. WikiLoan creates a win-win situation by allowing borrowers to create a loan listing between $1,000 and $25,000. They set their desired rate for the loan and get their WikiScore. Lenders then receive an invitation to view the listing and are provided with the borrower's WikiScore, debt-to-income ratio, and the loan repayment schedule. Lenders charge varying interest rates based on the borrower's WikiScore and other criteria. Borrowers have access to funds and the loans are reported to the major credit agencies, which will help their credit scores.
View a profile on WikiLoan here: http://www.qualitystocks.net/clients.php?clientid=wkli#head
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.
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