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Loanio suspends operations

Asked to comment on the recent developments, Loanio CEO Michael Solomon told P2P-Banking.com:

In light of recent events beyond our control, Loanio, Inc. has suspended its business so that we may begin the process of registering our promissory notes with the appropriate securities authorities and agencies. As a direct result, please be advised that effective immediately Loanio will no longer be accepting registration from lenders or borrowers and/or any new bids on loans or loan requests until further notice.

This message will be posted on the Loanio platform today.

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This entry was posted on Wednesday, November 26th, 2008 by wiseclerk at 1:13 am and is filed under Loanio, US. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

6 Responses to “Loanio suspends operations”

  1. Social Lending is maturing | web 2.0 meets reality « The Bankwatch Says:
    November 26th, 2008 at 10:38 am

    [...] Loanio suspends operations [...]

  2. bamalucky Says:
    November 26th, 2008 at 3:13 pm

    To participate in the class action lawsuit against prosper contact
    Phillip Kim, Esq.
    The Rosen Law Firm, P.A.
    350 5th Avenue, Suite 5508
    New York, New York 10118
    email: pkim@rosenlegal.com
    tel: (212) 686-1060

  3. ¿Necesitas dinero? No vayas al banco… : Wishful thinking… Says:
    November 28th, 2008 at 12:48 am

    [...] ha tenido que retirarse de EE UU por problemas regulatorios y la crisis de financiera. Loanio ha cerrado. Prosper, perseguida por la SEC, va por el mismo camino. En Dinamarca, Fairrates ha desaparecido [...]

  4. What did Prosper know - and when did Prosper know it? « Prosper.com Class Action Suit Monitor Says:
    November 29th, 2008 at 9:12 pm

    [...] Loanio suspends operations [...]

  5. Le marché du social lending est dans la tourmente aux US… | La rupture Internet Says:
    December 7th, 2008 at 7:40 am

    [...] des questions se posent sur son existance; zopa ferme aux US; loanio, ouvert le 1er octobre 2008, vient de fermer; seul LendingClub résiste. Pourquoi ? C’est le seul à être en règle avec la SEC, le [...]

  6. P2P-Banking.com » Review of peer to peer lending developments in 2008 Says:
    December 22nd, 2008 at 9:36 am

    [...] November: 50 million US$ Kiva loans reached; Comunitae gets funding; SEC orders Prosper to cease and desist; Loanio suspends operations [...]