SoMoLend to Introduce Lending Platform to National Audience at FinovateSpring in San Francisco May 9

SAN FRANCISCO— Can­dace Klein, CEO and Founder of SoMoLend (http://www.somolend.com/), will present at Fino­vate­Spring in San Fran­cisco May 8 and 9. SoMo will be the only crowd­fund­ing plat­form present at the con­fer­ence and will roll out its national plat­form that con­nects entre­pre­neurs in need of fund­ing with local orga­ni­za­tional investors, such as cham­bers of com­merce, munic­i­pal­i­ties, banks, local gov­ern­ments, busi­ness asso­ci­a­tions, fran­chisors and corporations.

SoMo is designed with the capa­bil­ity of allow­ing and pro­mot­ing peer-to-peer lend­ing, by which busi­ness bor­row­ers can get loans from friends and fam­ily, cus­tomers, Twit­ter fol­low­ers, Face­book friends and LinkedIn con­nec­tions. SoMo will launch peer-to-peer lend­ing as soon as key pro­vi­sions of the JOBS Act go into effect. SoMo’s online plat­form is live, and small busi­ness bor­row­ers in need of a loan can apply for financ­ing today.

Orga­nized by the Fino­vate Group, Fino­vate is a show­case of the newest finan­cial and bank­ing tech­nol­ogy inno­va­tions from lead­ing estab­lished com­pa­nies and young startups.

“As the only crowd­fund­ing plat­form present, we have an oppor­tu­nity to rep­re­sent the indus­try and show­case how crowd­fund­ing tech­nol­ogy will open so many doors for entre­pre­neurs seek­ing financ­ing. With the recent sign­ing of the JOBS Act into law, this is a very excit­ing time for our indus­try,” said Can­dace Klein, CEO and Founder of SoMoLend.

For more infor­ma­tion about Fino­vate, visit http://www.finovate.com/spring2012.

SoMoLend is an alter­na­tive bor­row­ing plat­form that offers new solu­tions for small busi­nesses to obtain the money they need to launch and sus­tain their oper­a­tions. SoMo’s soft­ware is designed to use the Web to match bor­row­ers with lenders, con­nect­ing busi­ness bor­row­ers with investors look­ing to make a return on investment.

The SoMo web­site is cur­rently live in its Beta phase. Small busi­ness bor­row­ers nation­wide are encour­aged to sign up today. To learn more, visit https://www.somolend.com/, or http://www.facebook.com/SoMoLend.

About SoMoLend

SoMoLend is a Web-based lend­ing plat­form that uses patent-pending tech­nol­ogy to con­nect small busi­ness bor­row­ers with indi­vid­ual and orga­ni­za­tional investors (lenders), exe­cuted within a hyper-localized geo­graphic scope. SoMoLend’s user-friendly tech­nol­ogy allows small busi­ness bor­row­ers to obtain loans from friends, fam­ily, cus­tomers, com­mu­nity sup­port­ers and inter­ested orga­ni­za­tions as well as from Face­book, Twit­ter, and LinkedIn con­nec­tions. For more infor­ma­tion, visit http://somolend.com/ or http://somolend.wordpress.com/.

About Fino­vate­Spring

Fino­vate­Spring is a demo-based con­fer­ence for inno­v­a­tive star­tups and estab­lished com­pa­nies in the fields of bank­ing and finan­cial tech­nol­ogy. Held in San Fran­cisco, the event offers an insight-packed glimpse of the future of money via a fast-paced, inti­mate and unique for­mat. Fino­vate­Spring is orga­nized by The Fino­vate Group. For more infor­ma­tion on the event or to view videos of pre­vi­ous demos, please visit http://www.finovate.com/spring2012.