SoMoLend introduces a new peer lending capability, leveraging the tools people use today - social networks, mobile phones and apps – to connect with their community and invest in each other.
This new social platform gives entrepreneurs the tools and financing they need to create jobs within their community. In turn, we give lenders the opportunity to invest in the things, ideas and people they care about most, all the while earning higher than average returns on their portfolio investments. Much like online communities, lenders and borrowers are made up of friends, family, locals and entrepreneurs.
SoMoLend's technology platform is entirely web based and leverages a GPS location tracking system (think foursquare) allowing borrowers and lenders to make real-time, face-to-face connections. Whether you have a business idea that needs investing, you want to securely invest in a friend’s business or just looking for alternatives to institutional loans, SoMoLend is the place for you.
We're definitely not your father's lending club and were different than other web-based peer-to-peer lending groups. We offer total transparency for borrowers and lenders to interact, where other groups keep their investors and lenders in the dark.
We Work with Banks
Another key differentiator you’ll find at SoMoLend is that we don’t bash banks. In fact, they play an important role in the SoMoLend community by providing an on-site lending pool for small businesses to gain additional funds. We are different, because our platform, our mission, our vision and values are center around you, the PERSON, the tools YOU use to connect with the community YOU live in. SoMoLend – People Investing in People.