SoMoLend is a debt-based funding platform that connects small business borrowers with corporate, institutional, organization and individual lenders, such as friends and family or accredited investors.
Our user-friendly platform is utilized by small businesses that need funding for their growth initiatives and investors seeking higher than public market rates of return, as well as those that want to help build their local economy through job creation. Small businesses typically pay less interest on their business loans than traditional lending sources.
SoMoLend automates, speeds and simplifies the steps for loan application, review, funding progress reporting, communications between borrower and lenders, and payments. We utilize best practices to help our borrowers develop and market their campaigns. SoMoLend provides a safe, secure and transparent platform that enables investors to understand a small business before making a lending decision.
SoMoLend will launch crowdfunding once the SEC issues the rules implementing the JOBS Act, which we anticipate in early 2014.
SoMoLend’s mission is to democratize access to capital for small businesses, and investment opportunities for average Americans, not just the wealthy.
To learn about how it works and to view our video visit www.somolend.com