Los Angeles, CA, October 01, 2011 --(PR.com
)-- The peer to peer lending site, WikiLoan has just announced that they are offering an automatic repayment system, to their paid members. This will enable borrowers with the ability to easily and conveniently repay their loan, on their predetermined payment date, with funds taken directly from their bank account.
WikiLoan is a social lending site that provides individuals who need a loan with a formal loan proposal tool and repayment calculator. With these resources, the borrower can create a professional and accurate proposal, which can be promoted to friends and family members through social networking sites such as Facebook, Twitter and MySpace. The advantage to this approach is that the borrower can negotiate a reasonable interest rate and repayment schedule, and the lender is contacted non-directly, and without pressure or obligation.
The automatic repayment system is another addition to the peer to peer lending site’s features. The site also includes Wikinvite, a tool to make the promotion of a formal loan proposal easier.
WikiLoan is also available to lenders who wish to earn a supplementary income, or support borrowers on his or her quest to achieve their goals through a generous loan, whether it is to go back to school or buy a first home.
1093 Broxton Avenue, Suite 210
Los Angeles, CA 90024
For more information on the peer to peer lending site WikiLoan, and their automatic repayment system visit, http://www.wikiloan.com/